The Asian Development Bank (ADB) and the Government of India on Wednesday signed a $50 million policy-based loan to improve financial management procedures and operational efficiencies aimed at achieving more fiscal savings, promote informed decision making, and improve service delivery in the state of West Bengal.
The loan builds up on past ADB policy-based programs in 2012 and 2017, supporting the Government of West Bengal on sustainable public financial management reforms. The loan is proposed to be supplemented by a $350,000 technical assistance grant for capacity building, monitoring of IFMS reforms, and strengthening the integration of social and gender aspects in reform areas.
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