Loan Agreement for ‘Chhattisgarh Public Financial Management and Accountability Program’

Question: Loan amount for ‘Chhattisgarh Public Financial Management and Accountability Program’ is _
(a) 25.2 Million Dollar
(b) 30.2 Million Dollar
(c) 35.2 Million Dollar
(d) 40.2 Million Dollar
Answer :(a)
Related facts:

  • The Government of India, the State Government of Chhattisgarh and the World Bank signed a 25.2 million dollar Loan agreement on March 5, 2019.
  • The Agreement has been done to support the State’s Reforms in Expenditure Management.
  • Further the support will cover expenditure planning, investment management, budget execution, public procurement and accountability.
  • The Chhattisgarh Public Financial Management and Accountability Program will also help state strengthen its Direct Benefit Transfer (DBT) and Tax Administration systems.
  • New Project, with its focus on IT solutions, will benefit almost 11,000 village panchayats and 168 Urban Municipalities in the state.
  • With 92 % households in the State belonging to Scheduled Castes, Scheduled Tribes and Other Backward Classes, the Direct Benefit Transfers (DBTs) are increasingly being used by the Central and State Governments to channel resources to households and individuals.
  • The 25.2 Million Dollar Loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 10.5 years.

Links:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=189202
https://www.worldbank.org/en/news/press-release/2019/03/05/world-bank-signs-agreement-to-help-improve-chhattisgarh-public-financial-management-systems-india

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