Bhubaneswar: Odisha State Capability and Resilient Growth Policy Program’(OSCRGPP)has been envisaged for implementation in the State with the assistance of the World Bank.
Official sources said that $145 Million is the Project Cost, which will be implemented in five years.
Vishal Dev, Principal Secretary Finance held talks with the World Bank officials and the program has been finalized for implementation, officials say.
Department of Finance led by Top Mandarin Shri Dev shall anchored the Program, said official sources.
World Bank has lauded efforts of Government of Odisha in its Report. Between 2001 and 2018, annual economic growth averaged 7.1 percent, ranking Odisha among the best performing state economies in India.
Furthermore, the state has demonstrated progress in improving access to basic services and enhancing human development.
Since 2005, the pace of poverty reduction has been the fastest of any state in India, said World Bank.
Improved fiscal conditions forged at the confluence of reform, improved financial management and fiscal discipline, empowered the state to implement ambitious and reinforcing poverty reduction and development programs.
Between 2005 and 2012 the incidence of poverty in Odisha fell by 25 percentage points and the share of the population living in poverty fell from 58% in 2005 to 33% in 2012.
In order to protect the livelihoods of the poor and vulnerable, managing disaster-risks, and facilitating better use of digital data for resilience, service delivery and planning have become the priority of Government of Odisha in the post-pandemic landscape.
Government of Odisha (GoO) is implementing various programmes in the areas of social protection, disaster risk management and statistical support at the state level with overarching support from national level agencies.
In order to adopt the best practices around the World an externally aided program named ‘Odisha State Capability and Resilient Growth Policy Program’ (OSCRGPP)has been envisaged for implementation in the State with the assistance of the World Bank.
The total outlay of the programme is USD 145 Million out of which loan from the World Bank will be USD 100 Million and contribution of the State will be of USD 45 million.
The World Bank will be using an instrument called Program for Results (PforR) to finance the program. The duration of the Period is 5 Years.
The withdrawal of the Loan will be based on achievement of Disbursement Linked Indicators (DLIs). The Programme has 9 DLIs and further comprises of 15 Disbursement Linked Results (DLRs).
This project comes under the Strategic State partnership of the World Bank Group with Odisha under new Country partnership framework (CPF) FY 2018-2022.
The Project has already been appraised and approved in the State Level Project Monitoring Committee (SLPMC) under the chairmanship of Chief Secretary, Odisha on 24 November 2022.