World Bank extends $1billion assistance to Maharashtra

World Bank extends $1billion assistance to Maharashtra

The World Bank will develop climate resilient agriculture practices in Maharashtra.

The Dollar Business Bureau

The World Bank on Tuesday announced it is partnering with the Maharashtra government to deliver a proposed $1 billion assistance programme to develop urban transportation and climate resilient agriculture.

"Over the last five years, the World Bank has invested over $1.4 billion in Maharashtra in urban transport, rural water supply and agriculture," World Bank CEO Kristalina Georgieva told the reporter, following her day-long visit to the megapolis.

To experience the locals’ pain, the World Bank CEO travelled in a local train and discussed with the women passengers their everyday challenges and opportunities to improve the public transport system.

"To meet the aspirations of Mumbaikars, some of whom I met today, the city will have to make massive investments in transport infrastructure. The bank is committed to supporting the government's efforts in this area through investments that strengthen the government's capacity to leverage additional funds, including those from the private sector," Georgieva said.

Georgieva said the World Bank has also committed to facilitate Maharashtra with climate resilient agriculture practices and train the farmers to adopt these practices during the drought seasons.

Maharashtra Chief Minister Devendra Fadnavis also said the state government would work in conjunction with the World Bank to ensure the state witnesses an overall economic development, which in turn, could translate into people’s well-being.

"The state faces significant challenges, particularly in areas of urban transport, climate change and water. We are keen to work with the World Bank in these areas and explore future opportunities to deepen our engagement for an overall development of the state," said Fadnavis.

The Dollar Business Bureau - Mar 01, 2017 12:00 IST