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India and World Bank sign agreement for DPL Loan of US$100mn

Credit Agreement for World Bank DPL Loan of US$100mn for promoting Inclusive Growth and Sustainable Development has been signed between the Government of India, the World Bank and the Government of Himachal Pradesh

June 12, 2014 8:56 IST | India Infoline News Service
Credit Agreement for World Bank DPL Loan of US$100mn forpromoting Inclusive Growth and Sustainable Developmenthas been signed between the Government of India, the World Bank and the Government of Himachal Pradesh. This Agreement was signed by Usha Titus, Joint Secretary, Department of Economic Affairs on behalf of the Government of India and Shrikant Baldi, Principal Secretary (Finance), on behalf of the Government of Himachal Pradesh and Onno Ruhl, World Bank Country Director in India, on behalf of the World Bank.

The Loan agreement signed here will be financed by the Clean Technology Fund (CTF). It will help Himachal Pradesh bring in better policies and practices to guide the development of sustainable hydropower; adapt and mitigate the effects of climate change; empower local communities to conserve their watersheds better; promote cleaner methods of industrial production; promote environmentally sustainable tourism; and integrate GIS in decision making.

The Government of Himachal Pradesh is the implementing agency.

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