The World Bank has approved a $130 million loan for a rural development project targeting poor communities in northeastern India.
The loan will finance the Indian government’s North East Rural Livelihoods Project, an initiative to improve the livelihood of poor people living in eight districts of Aizawl and Lunglei in Mizoram state; Peren and Tuensang in Nagaland; South, West and East districts in Sikkim; and West and North districts in Tripura.
The project includes activities to help rural communities in these districts establish sustainable microfinance institutions and other sources of livelihood. It also aims to provide self-entrepreneurship opportunities for the youth and develop partnerships between the communities and commercial banks or larger microfinance institutions.
The project will be implemented by India’s Ministry of Development of North Eastern Region.
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