The World Bank (WB) has approved a loan of $150 million (nearly ₹1,200 crores) to Punjab for The ‘Punjab: Building Fiscal and Institutional Resilience Program, aimed at helping better manage its financial resources and improve access to public services. “The ‘Punjab: Building Fiscal and Institutional Resilience Program’ aims to strengthen the institutional capabilities of various government departments, manage fiscal risks and make informed policy choices to support sustainable growth.
- The new project will play an important role in achieving the Punjab development goals by strengthening planning, budgeting and monitoring functions and leveraging digital technology.
- The ‘Punjab: Building Fiscal and Institutional Resilience Program contain two initiatives. 1) a performance-based grants system for incentivising municipal corporations to improve service delivery. 2) demonstrating 24×7 water supply in select areas in Amritsar and Ludhiana.
About World Bank –
- Headquarters: Washington, D.C., United States
- President: David Malpass
- Founded: July 1944, Bretton Woods, New Hampshire, United States
- Motto: Working for a World Free of Poverty
- Founders: John Maynard Keynes, Harry Dexter White
About Punjab –
- Chief Minister: Bhagwant Mann
- Area: 50,362 km²
- Capital: Chandigarh
- Governor: Banwarilal Purohit
- Population: 2.8 crores
- Dance – Bhangra, Giddha
- Mammal – Blackbuck
- Bird – Baaz
- Flower – Gladiolus
- Tree – Sheesham (Dalbergia sissoo)
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