World Bank OKs $112.56 mn loan for Chhattisgarh

The World Bank has approved a whopping $112.56 million development loan for Chhattisgarh for improving the living standards of thousands of households in the rural areas of the state.

'The Chhattisgarh District Rural Poverty Project', designed to support the poverty alleviation strategy of the state government would create infrastructure and help develop income-generating activities for the people in poor and rural communities, the bank said in a statement on Thursday.

"The project aims to improve opportunities for the poor and vulnerable, especially women, to meet their own social and economic development objectives," said Luis Constantino, a World Bank senior agricultural economist and task leader for the project.

The credit from the International Development Association, a lending arm of the bank, will be implemented by Common Interest Groups, which serve as the central organisation for the poor people in 'project villages' through self-help groups, it said.

Local village panchayats will act as nodal agencies for identifying the target beneficiaries for the project, which is expected to benefit 150,000 households spread in 2000 villages, it said.