Bhubaneswar: The Work Bank would be extending support to the Odisha government with a total project outlay of Rs 2,400 crore under the Development Policy Loan (DPL), media reports said.
It is intended at building a robust social protection system to improve coordination, coverage and targeting social programmes being implemented in the state.
The NITI Aayog has already given the go ahead for such a loan to Odisha and the proposal is currently being examined by Department of Economic Affairs (DEA) under Ministry of Finance. The tides seem to be favouring with its fiscal performance on track, the reports further claimed.
“Under the DPL, the World Bank will be approving a 300 Million US Dollar project and the 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,” a report in the the Pioneer said.
To equip itself better for tackling natural disasters, the Odisha government is planning an International Disaster Institute in Bhubaneswar.
The first DPL will focus on expediting economic transformation, strengthening state capability and forging a sustainable and resilient future. “Deeper dialogue has also started on diagnostic and technical assistance,” the Pioneer added.
If reports are to be believe, the state government is already in talk with the World Bank for setting up a world class health institution in Cuttack and the ongoing expansion of SCB Medical College and Hospital is being seen as a step in that direction.