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Source: media reports

$200 mn loan for Himachal

$200 mn loan for Himachal
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First Published: Thu, Sep 27 2007. 12 58 AM IST
Updated: Thu, Sep 27 2007. 12 58 AM IST
New Delhi: The World Bank on Tuesday approved its first Himachal Pradesh Development Policy Loan and Credit for $200 million (Rs794 crore).
The loan is intended to support implementation of structural, fiscal and administrative reforms.
Of the total loan, $125 million will be disbursed by the International Bank for Reconstruction and Development, one of the World Bank’s two lending arms, at 6% rate of interest, and the rest by the International Development Association, at 0.8%.
This loan comes right after bank approved another loan of $220 million for rural road infrastructure in the state.
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First Published: Thu, Sep 27 2007. 12 58 AM IST