Home>News Center>World
         
 

World Bank lends India $325m for water projects
(Agencies)
Updated: 2005-06-24 10:03

The World Bank on Thursday approved a $325 million loan to India to improve water irrigation and distribution systems in Maharashtra, the South Asian country's third-most populous state.

Michael Carter, the World Bank's country director for India, said the funds would support a government project expected to enhance irrigation coverage and boost crop yields.

Country Director (India) of World Bank Michael Carter speaks at a workshop Assessing the Investment Climate in Karntaka organized by the World Bank and the Confederation of Indian Industry, in Bangalore, India, Tuesday, June 21, 2005.
Country Director (India) of World Bank Michael Carter speaks at a workshop Assessing the Investment Climate in Karntaka organized by the World Bank and the Confederation of Indian Industry, in Bangalore, India, Tuesday, June 21, 2005.[Reuters]
"As a result of this project, farm incomes on average are expected to increase by 49 percent, and about 33,610 farm families who are fully dependent on agriculture will be brought above the poverty line at the projects closure," Carter said.

More than half of the approximate 100 million people in Maharashtra live in rural areas, of which about 80 percent depend on agriculture for their livelihoods, the World Bank said. Rainfall is highly irregular in the region in Western India, which also includes the city of Mumbai.

The World Bank's loan has a maturity of 20 years, including a five-year grace period.



Space shuttle Discovery launch delayed
Blair plans measures to uproot extremism
Pakistan train crash carnage kills 128
 
  Today's Top News     Top World News
 

Taiwan's KMT Party to elect new leader Saturday

 

   
 

'No trouble brewing,' beer industry insists

 

   
 

Critics see security threat in Unocal bid

 

   
 

DPRK: Nuke-free peninsula our goal

 

   
 

Workplace death toll set to soar in China

 

   
 

No foreign controlling stakes in steel firms

 

   
  Judge: Saddam trial could begin next month
   
  DPRK: Nuke-free peninsula our goal
   
  Pakistan train crash carnage kills 128
   
  NASA delays shuttle launch till Saturday
   
  Annan advocates UN Council expansion now
   
  Israel seals off Gaza Strip settlements
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  Are the Republicans exploiting the memory of 9/11?  
Advertisement