West Bengal Gets $300 Million ADB Loan

 

The board of Asian Development Bank (ADB) has approved a loan of USD 300 million to continue a comprehensive series of fiscal reforms in West Bengal to bring about more accessible, affordable, and high quality public services. West Bengal, for the first time in 2012 had received a USD 400 million from ADB with an aim to create a fiscal space necessary to sustain higher public investment in the eastern India.

Under new loan programme to be carried out over two years, linking medium term expenditure plans to actual budgets supported by strengthening internal audit system and enhancements in the integrated financial management system (IFMS) are part of the reform process. Other activities under the programme include improved tax monitoring and continued support for information technology systems in strengthening tax and land administration.