World Bank approves $1 billion credit for NRLP

Posted By: Religare
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World Bank approves $1 billion credit for NRLP
The World Bank has given its nod for the disbursement of $1 billion loan to National Rural Livelihoods Project (NRLP). The loan will aid the execution of India's new poverty initiative called National Rural Livelihoods Mission (NRLM).

The $ 7.7 billion newly set up poverty program, is one of the largest poverty programs worldwide and would be targeted at 350 million Indians or one quarter of the country's total population.

The funds provided by World Bank would help in creating a structure for enabling the rural poor, especially women to step into common institutions and allowing them to voice their opinion regarding accountability in education, health, nutritional and financial services.

The World bank is keen on supplementing India in its social reformation process, and support the country's Millennium Development Goals (MDG) on Nutrition, Gender, and Poverty.

NRLMs success would be the key to bringing all the country's anti poverty programs under one single initiative, and enable India to achieve its MDGs in the next few years. The National Rural Livelihoods Project (NRLP) would aim to spread its success in some regions to the country's backward regions.

Read more about: world bank, credit
Story first published: Thursday, July 7, 2011, 9:30 [IST]
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