World Bank signs $60 mn agreement with GoI to reduce urban poverty

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World Bank signs $60 mn agreement with GoI
In a bid to reduce the urban poverty, the World Bank on December 8, 2011 signed a USD 60 million credit agreement with the Department of Economic Affairs, Ministry of Finance, Government of India (GOI). Consequently, the credit would be used for building the capacity of select Urban Local Bodies (ULBs) to improve their skills for better urban management.

“The World Bank today signed a USD 60 million credit agreement with the Department of Economic Affairs, Ministry of Finance, Government of India for building the capacity of select Urban Local Bodies (ULBs) to improve their skills for better urban management and thereby reduce urban poverty," said the government data.

The agreement comes in line with the government's larger vision towards the development of the urban India. Therefore, using the credit, it intends to provide the ULBs with a comprehensive package of assistance not only in building their capacity for better urban management, but also in formulating comprehensive poverty alleviation strategies.

Meanwhile, the government aims to create an economically productive, efficient, equitable, inclusive and responsive Urban Local Bodies for the urban development. This would further help the country to attain high economic growth and would also accelerate poverty reduction and improve services, especially to the urban poor.

Dion Global Solutions Ltd

Read more about: growth, economic, world bank, government
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