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Loans from multilateral institutions - Checklist designed for better implementation

By TIOL News Service

NEW DELHI, MAY 01, 2016: THE details of outstanding loan of Government of India towards each of the multilateral institutions i.e., International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Fund for Agriculture Development (IFAD) and Asian Development Bank(ADB) are as follows:

Amount INR

Sl. No.

Name of Institution

Debt Outstanding on 31.3.2016

1.

ADB

660,629,538,578

2.

World bank (IBRD)

615,530,830,761

3.

World Bank (IDA)

1,637,718,186,006

4.

IRAD`

21,453,084,483

The details of the amount of the loan taken during the last three years, year-wise and institution-wise are given below. Besides facilitating socio-economic development, the financial assistance from MDBs also facilitates transfer of technology, sharing of knowledge and international best practices, which results in improvement in systems and processes.

Loan amount (INR in Crore)

Sl. No.

Name of Institution

2013-14

2014-15

2015-16

1.

ADB

4,263.00

6,580.61

7,176.90

2.

World bank (IBRD)

3,402.69

5,634.81

5,782.39

3.

World Bank (IDA)

6,738.90

8015.20

9439.71

4.

IRAD`

210.29

191.74

220.05

Several steps are being taken by the Government to speed up the disbursement of the projects and to ensure that the projects are implemented within the agreed time frame thereby contributing to socio-economic development of the country. A project readiness checklist has been devised for ensuring adequate preparedness of projects before implementation. Strict monitoring of disbursements/projects through Tripartite Review meetings (TPRM), State Review Meetings (SRM) is being undertaken. Further, D.O. letter at Secretary level are issued to Line Ministries and State Governments bringing out various issues in implementation of project.

This was stated by Mr Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha yesterday.

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