World Bank's project portfolio in TN worth $911.4 million

The Bank has provided assistance to the tune of $3.6 bn in lending in various sectors in the state, in last 50 years

The World Bank in a status report today pegged the value of its ongoing projects’ portfolio in Tamil Nadu at  $911.4 million. Of this, funds aggregating $609.7 million have been disbursed, the report said.

In the state, the Bank is supporting three single-state projects amounting to $541.7 million and five multi-state projects with the state's share amounting to $268.4 million, according to the report.

“At present, the World Bank is supporting three single-state projects amounting to US$ 541.7 million. It includes Tamil Nadu empowerment and poverty reduction project (RWSRP); irrigated agriculture modernisation and water bodies restoration and management project; and health systems project. There are 5 multi-state projects being implemented in Tamil Nadu, with the state’s share amounting to US$ 268.4 million,” says the report.

The Tamil Nadu Health Systems and Tamil Nadu Empowerment and Poverty Reduction Project, which received approval on December 16, 2004 and July 12, 2005, respectively, are expected to close on September 30, 2014, while the Tamil Nadu Irrigated Agriculture Modernization and Water Bodies Restoration and Management, started on June 3, 2010 with four years of age, is expected to complete on September 30, 2015.

For the Tamil Nadu specific projects has a State share of $541.7 million, of which $387 million has been disbursed till May 30, 2014, while the total unsdistrbuted balance is of $154.7 mllion, it said.

Of the total value of portfolio in Tamil Nadu, of $911.4 million, $609.7 has been distributed, says the status report.

The Bank has been engaged with Tamil Nadu for more than 50 years, starting from the International Bank for Reconstruction and Development (IBRD)-assisted US$ 14 million Madras Port project approved in 1958.

"Since then, the Bank has provided assistance to the state in a wide array of sectors ranging from agriculture, irrigation, health, forestry, livelihood, water supply and sanitation, industry & trade, and disaster management to the tune of US$ 3.6 billion in lending (including multi-donor trust funds), of which the International Development Association (IDA) is US$ 2 billion and IBRD is US$ 1.5 billion," it said.

The World Bank's current program of support in Tamil Nadu is focused on improving rural livelihoods and agricultural growth, restoring water bodies, urban development, improving health outcomes and better disaster management for coastal areas. It is based on both technical assistance and a portfolio of active investment projects.