World Bank’s USD 125 million Loan to West Bengal

An IBRD (International Bank for Reconstruction and Development) loan of USD $125 million has been offered to West Bengal by the World Bank to help poor and vulnerable groups through social protection services in the state.

Overview:

  • Over 400 programs to give care services, social assistance, and jobs through an umbrella platform called Jai Bangla that is being run in West Bengal.
  • The loan from IBRD would help the state develop the capability for the Inclusive Social Protection Project, which focuses on vulnerable populations such as women, tribal and scheduled caste households, and those in disaster-prone coastal areas.
  • The project will also finance the establishment of a teleconsultation network for social care services, as well as a cadre of case management workers who can provide guidance on eldercare and connect homes to health services and facilities.
  • The project would also build an institutional platform to improve the effectiveness and coordination of government actions aimed at increasing women’s involvement in the workforce of the state.
  • The project will also focus on enhancing the state government’s ability to expand access and coverage to targeted services and social assistance for the state’s poor and vulnerable populations.

About International Bank for Reconstruction and Development

The World Bank Group’s lending arm is the IBRD. It was founded in 1944 and is based in Washington, D.C. Loans to middle-income developing countries are offered by IBRD. In 1944, the IBRD’s initial aim was to finance the rehabilitation of European countries destroyed by World War II. The IBRD and the International Development Association (IDA), share the same leadership and staff, hence, they are collectively referred to as the World Bank.

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