World Bank to loan TN $485mn for irrigation

 The Tamil Nadu Irrigated Agriculture Modernization and Water-Bodies Restoration and Management Project is designed to modernise irrigation systems covering over 600,000 hectares in 63 selected sub-basins throughout the State.

 "An estimated 50,000 jobs are expected to be created on both on-farm and off-farm activities in the project area (Tamil Nadu)," an official statement quoted Finance minister P Chidambaram as saying.

 The multilateral agency is considering to provide $ 200 million to Andhra Pradesh and $ 150 million to Karnataka and Orissa, said Praful Patel, World Bank vice president (South Asia Region).

 World Bank is also likely to provide $ 500 million for a project to revive rural cooperative credit structure in the country. Another multilateral agency Asian Development has already signed a deal with government to provide $ 1 billion to the same project.

 Patel said the World Bank is stepping up lending to India, especially to the crucial infrastructure sector. "The Bank