WB to fund health projects

3 projects totalling $662 mn, which were held up for more than a year, have been approved by the World Bank.

The World Bank has resumed lending to India's health sector with an approval of $662 million for three projects, the government said on Tuesday.

HT Image

"Three projects totalling $662 million, which were held up for more than a year, have now been approved by the board of executive directors of the World Bank," a finance ministry statement said.

The approval of these projects has come after intensive efforts by India to clarify the bank's misgivings on the utilisation of funds and commitment on having a fully transparent process for procuring drugs that conform to global standards.

The three projects include two in the central sector - Reproductive and Child Health-II Project ($350 million) and National Tuberculosis Control Project-II ($170 million). The third project selected for a $142 million funding is the Karnataka Health Systems Development and Reform Project.