WASHINGTON, July 31, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors: IDA Credit: US$82.4 Million TERMS: Maturity= 35 years; Grace= 10 years Project Description: The Orissa Rural Livelihoods Project for India aims at enhancing the socio-economic status of the poor, especially women and disadvantaged groups, in selected districts of Orissa. Project components include (a) institution building, (b) development of a Community Investment Fund, (c) a Livelihood Promotion Fund, and (d) project management, knowledge management and replication. The Community Investment Fund is expected to help community-based organizations build institutional capacity, leverage additional funds from mainstream financial institutions, and develop new financial products that better address the needs of the poor and their organizations. The Livelihood Promotion Fund will support enhanced production, productivity and profitability in key rural livelihood sectors like agriculture, horticulture, handlooms, fisheries and livestock in coastal districts. Media Contact Erik Nora at (202) 458-4735 enora@worldbank.org For more project information please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P093478 |
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