$48 Million Deal Signed for Nagaland Health Project
Tuesday, January 17, 2017
The Government of India, the Government of Nagaland and the World Bank have signed a massive 48 million dollars credit agreement for the ‘Nagaland Health Project,’ which aims to improve health services across the state.
The agreement for the project was signed by Raj Kumar, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; L. Watikala, Principal Director, Department of Health and Family Welfare, Government of Nagaland; and Genevieve Connors, Program Leader and Acting Country Director, World Bank India, on behalf of the World Bank.
Credit for the project, which was approved on December 19, 2016, is from the International Development Association (IDA) – the World Bank’s concessionary lending arm – with a maturity of 25 years, including a 5-year grace period.
The total cost of the project, according to the World Bank is 60 million dollars, with the IDA providing 48 million dollars, and the borrower i.e. the Government of India committing the remaining 12 million dollars.
- Health Care