India: First Himachal Pradesh Development Policy Loan and Credit (HPDPL1)

WASHINGTON, September 25, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

 

IBRD LOAN: US$125 million

TERMS: Maturity = 20 years; Grace period = 5 years.
IDA CREDIT: US$75 million

TERMS: Maturity = 35 years; Grace period = 10 years.

PROJECT DESCRIPTION: The overarching objective of the proposed HPDPL1 is to support the implementation of critical structural, fiscal, and administrative reforms needed to achieve sustainable and rapid economic growth and inclusive development over the medium term, while sustaining the environmental heritage of the state. The priority areas for the first operation will be fiscal adjustment, and promotion of environmentally sustainable development with particular reference to hydropower. The overall program will also support measures to enhance growth and livelihoods, and improve governance and public administration.

 

For more information, please call Erik Nora at (202) 458-4735 or email:

enora@worldbank.org