World Bank Approves Rs 56 Crore Funding to India

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World Bank Approves Rs 56 Crore Funding to India
25 Jun 2022
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News Synopsis

The World Bank has approved total funding of Rs 56.2 crore for educational projects in Gujarat, social security programs in Tamil Nadu, and post-pandemic fisheries development. The World Bank said in a press release on Thursday that the global institution's board of executive directors has approved Rs 25 crore in additional funding for accelerated learning outcomes.

Let us tell you that the objective of this program is to improve education outcomes for the children of Gujarat, apart from this the board has given Rs 150 crore for development in the fisheries sector and in Tamil Nadu under the RITES project to strengthen the social security systems and capacity has approved funding of Rs 16.2 crore.

For your information, let us tell you that the World Bank is a specialized institution. Its main purpose is to provide financial assistance to the member states in the work of reconstruction and development. The World Bank Group is a grouping of five international organizations that provide finance and financial advice to member countries. Its headquarter is in Washington DC. Its full name is International Development Association.

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