WB to provide USD 21.7 mn loan for Rajasthan financial management
As per the statement, the objective of the project is to contribute to improved budget execution.
New Delhi: The World Bank will provide a USD 21.7 million loan for strengthening the public financial management in Rajasthan to improve budget execution and greater revenue efficiency.
An agreement for IBRD credit of USD 21.7 million was signed here, the finance ministry said in a statement.
"The project size is approximately USD 31 million, of which USD 21.7 million will be financed by the World Bank, and the remaining amount will be funded-out of the state budget," it said, adding that the Project duration is 5 years.
As per the statement, the objective of the project is to contribute to improved budget execution, enhanced accountability and greater efficiency in revenue administration in Rajasthan.
It involves strengthening of the Public Financial Management Framework; strengthening of expenditure and revenue systems; and project management and capacity building among others.