The World Bank has approved a USD 200-million loan for the implementation of fiscal reforms and the development of environmentally-sustainable development in the Indian state of Himachal Pradesh. According to a state government official, the loan is also aimed at promoting growth and employment in the region and enhancing governance and public administration. The bank lauded the Indian state for being a trailblazer where issues of gender equality and access to services were concerned. “The state today faces new challenges, including effective management of its environmental resources while investing in hydropower in an environmentally sound way. The loan supports this agenda,” said World Bank country director Isabel Guerrero. Himachal Pradesh has 20 years to settle the loan, which will also have a five- to 10-year grace period.
Source: World bank clears USD 200-million Himachal loan (IANS)
