Maharashtra Govt takes Rs. 5000 cr loan from World Bank to help drought hit regions
 Source : Agencies  Date : 26-Apr-2016

Mumbai, April 26: Maharashtra Government will be taking a loan of 5000 crore rupees from the World Bank for implementing drought and migration steps said Chief Minister Devendra Fadnavis.

Speaking to reporters in Mumbai, Fadnavis said that the State government has submitted a proposal with the External Affairs Ministry as per the instructions of World Bank and a meeting was held between officials of both sides.  
The money will be utilized to built u water conversation facilities and changing the crop patters in farms.  He informed that the State government has requested World Bank officials to help in addressing the issue of drought from the specific fund they have created for drought mitigation.  

The Chief Minister also informed that generally, the process of submitting a proposal and disbursement of loan amount takes about a year-and-a-half; however, he has requested the World Bank officials to consider their proposal at the earliest.  

He said, the World Bank would support 3,000 villages from Marathwada and 2,000 from Vidarbha to make them drought free.