India: Orissa Socio-Economic Development Program

WASHINGTON, November 2, 2004-The following project was approved today by the World Bank’s Board:

 

AMOUNT: US$125 million (Credit = US$40 million; Loan = US$85 million)
PROJECT DESCRIPTION: This program aims to support the implementation of critical economic, fiscal and administrative reforms needed to revive economic growth and achieve rapid poverty reduction over the medium term in the poorest of India’s 16 major states. The easing of fiscal stress, characterized by large deficits and unsustainable debt, and improvements in systems of service delivery will, among other things, enable Orissa to effectively utilize additional project assistance in key sectors in future years. For more information, please call Karina Manasseh at (202) 473-1729 , or email: kmanasseh@worldbank.org. For project information documents, visit: http://web.worldbank.org/external/projects/main?pagePK=104231&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P081882