 "ADB approves $50 mn loan to improve resource planning in West Bengal")
The Asian Development Bank on Friday said it has approved a USD 50 million loan to improve operational efficiencies and resource planning and management in West Bengal.
The loan will support the integration of financial and information system and the expansion of automation reforms in the operations of the state government, which are expected to strengthen the delivery of public services and create fiscal savings, said the Manila-based multilateral lending agency in a release.
The loan will be supplemented by a USD 350,000 technical assistance grant for capacity building, monitoring of IFMS (Integrated Financial Management System) reforms, and strengthening the integration of social and gender aspects in reform areas.
This programme supports the Government of India's objective of making public services more accessible through interoperable eGovernment platforms, ADB Senior Public Management Economist for South Asia Navendu Karan said.
It will help improve the management of social protection benefits such as pensions and provident funds, e-payment facilities for tax payment and revenue collection, and information management and service delivery, among others, Karan added.
The loan builds on past ADB policy-based programmes in 2012 and 2017, supporting West Bengal on sustainable public financial management reforms, the release said.
These programmes, according to the ADB, helped develop and implement an IFMS, established successful e-Governance systems for improved revenue administration, undertook measures for expenditure rationalisation, and promoted the private sector's involvement in service delivery.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)