World Bank weaves a billion-dollar Bengal vision

World Bank weaves a billion-dollar Bengal vision

Agency News

Kolkata, Feb 26 : The World Bank’s investments in Bengal are set to cross the $1-billion threshold soon.

Not only that, the international financial institution is also looking to raise its commitments by another $1 billion within the next two years.
This was conveyed recently by the country director of the World Bank. He said that investments in the State have really grown in the last four to five years.

This proves the success and sustainability of the development model being followed by the Bengal Government under the leadership of Chief Minister Mamata Banerjee. The multilateral financial institution wants to step up its investments in the areas of logistics and transport (road, jetties, etc.), irrigation, flood management, social security programmes and urban administration in the next two to three years.

A State Government official said that the State has reduced the debt to GDP ratio despite a crushing loan burden and also allocated funds for capital investment which has had a multiplier effect on the state’s economy. UNI