WB to extend Rs 1,000 cr interest-free loan to Bengal
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Last Updated: Thursday, July 15, 2010, 22:08
Kolkata: The World Bank would extend an interest-free loan of Rs 1,000 crore to the West Bengal government for the development of the state's panchayat areas.

A memorandum of understanding in this regard was today signed by the World Bank and the West Bengal government's Panchayat and Rural Development department.

The panchayat and rural development minister of the state, Anisur Rahman, who was present during the signing of the MoU, said, "The money will be utilised in 1000 gram panchyats of the state and 80 per cent of the money will be used for the development of panchayat areas."

The remaining 20 per cent of the money will be utilised on training, infrastructural development and income generation schemes, Rahman said.

The country director for India of the World Bank, Roberto Zagha, and the officials of the West Bengal Government Panchayat and Rural Development department were present on the occasion.


First Published: Thursday, July 15, 2010, 22:08

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