Odisha To Avail Policy Loan

World Bank will be extending support to Odisha with a total Project Outlay of Rs.2400 Crore under Development Policy Loan (DPL).

Senior Officials of the Odisha Government are engaged in intensive talks with Ministry of Expenditure to give a final shape to the financial engagement of the International Bank, said sources.

For the first time World Bank will be extending support under Development Policy Loan as NITI Aayog has green signalled for Odisha, while other States are waiting for the same.

NITI Aayog is happy with Odisha’s Development Perspective and continues to support the State Government for such a loan from World Bank.

After NITI Aayog’s green signal, Ministry of Finance is examining the proposal and officials are highly favourable for this Eastern State as its Fiscal Performance is on track, officials say.

Under Development Policy Loan, World Bank will be approving a 300 Million US Dollar Project and International Bank will provide 210 Million US Dollar loan.

Odisha will be funding 90 Million US Dollar out of its State Exchequer to take up various projects including setting up of an International Disaster Institute in Odisha.

Various components are there under this World Bank Project, which also include building up State-of-the-Art Social Protection System.

State Government is running a large number of Social Protection Programs and keeping track of all these programs need a robust system.

Strengthening the Statistical Systems and Human Resources will be taken up under DPL.

In order to further strengthen resilience to natural disasters, an International Disaster Institute will be set up in Bhubaneswar.

This First DPL will strengthen the State Capability and build a robust Social Protection System to improve coordination, coverage and targeting Social Programs.

Officials say that the State Partnership with World Bank will be focused on expediting Economic Transformation, Strengthening State Capability and forging a sustainable and resilient future.
Deeper Dialogue has also started on diagnostic and technical assiatance, said an officer.

In fact the State Government has gone ahead talking to World Bank on improving Tertiary Health Care and setting up of World Class Institution in Cuttack.

SCB Medical College and Hospital is being improved to an International Level Health Care Institution and World Bank will be extending all out support, said sources.

A talk in this regard is in advance stage and Ministry of Health and Family Welfare is extending all out support for the same.

Union Secretary health and Family Welfare Preetin Sudan is in constant touch with Chief Secretary Asit Tripathy in this regard, said official sources.

Department of Economic Affairs (DEA) under Ministry of Finance is examining the proposal, officials say.

For improvement of infrastructure and creation of assets, the State Government will provide Budgetary Support through its own kitty.

And the Odisha Government will take Technical Assistance from World Bank for improving Tertiary Health Care officials reveal.

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