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World Bank approves Rs 4,400-cr funding for Three projects in India

Published on June 24, 2022
Current Context: World Bank has approved three loans totaling $562 million to fund many projects.
World Bank approves Rs 4,400-cr funding for Three projects in India
  • These projects include an education program in Gujarat, a social protection program in Tamil Nadu, and a project to help recovery in the fisheries sector.
  • World Bank has approved additional financing of $250 million for Outcomes for Accelerated Learning (GOAL), a program that aims to improve education results for children across the state of Gujarat.
  • These will benefit an additional 3,000 schools that have been disproportionately affected by the Covid-19 pandemic.
  • In 2020-21, the fisheries sector saw losses of about USD 5.5 billion and fish production fell almost 40% in one year due to the Covid-19 pandemic.
  • While Additional financing will scale up the coverage of the original program from a total of 9,000 to 12,000 schools, while also supporting new efforts to test the efficacy of the program's interventions.
  • As per world bank $150 million loans to support the recovery of India’s fisheries sector as it employs about 12 million people directly and another 13 million through associated activities.
  • Incentives for larger private investment in the fisheries sector in India have been limited, mainly due to a lack of access to financing or credit, and perceptions that the sector is high-risk.

Question:

Q.1 World Bank has approved for Outcomes for Accelerated Learning (GOAL).
a. $320 Million
b. $250 Million
c. $562 Million
d. $352 Million
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