World Bank offers Bihar $100 mn loan

July 9th, 2012 - 10:05 pm ICT by IANS  

New Delhi, July 9 (IANS) The World Bank Monday offered a $100 million loan for a rural livelihood project in Bihar that is expected to benefit 1.5 million households.

The project is aimed at enhancing the social and economic empowerment of the rural poor in Bihar.

Representatives of the government of India, government of Bihar and the World Bank signed the loan agreement here.

The additional financing will help consolidate and expand the project covering all the blocks in six districts covered under the programme named Jeevika (livelihood).

“This will not only allow the project to cover all the villages in the existing districts, but also provide a comprehensive district wide model for poverty alleviation in Bihar, a predominantly rural state with 89 percent of the population living in rural areas,” the finance ministry said in a statement after signing of the agreement.

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