World Bank approves $125m loan from Bengal government

In a significant recognition of the social protection programs launched by West Bengal Chief Minister Mamata Banerjee, the World Bank has approved a $125 million (nearly Rs 1,000 crore) loan for inclusive social protection.

Earlier, IANS reported that the World Bank intended to fund the state government for the cost of the “Women’s Empowerment and Inclusive Social Protection Programme” and earmark part of the proceeds for services. of advice. This will help in some welfare schemes launched by the state government like ‘Kanyashree’, ‘Rupashree’, ‘Lakshmir Bhandar’, ‘Swastha Sathi’, ‘Widow Pension’ and ‘Old Age Pension’.

In a press release on Saturday, the state government announced that the World Bank on January 19, in recognition of these efforts by the state government, had authorized a loan of $125 million (approximately 1,000 crores of rupees) to the government of West Bengal to support the state’s efforts to help the poor and vulnerable groups access social welfare services. Mamata Banerjee’s serious efforts to identify the problems of the weakest sections of society and solve them have paid off, according to the statement.

The World Bank statement said that West Bengal runs more than 400 programs that provide social assistance, protection, care services and jobs through an umbrella platform “Joy Bangla”, the system of unified state delivery focused on vulnerable groups such as women, the elderly, tribal and scheduled castes, people with disabilities and those in disaster-prone coastal regions,

The unique “Duare Sarkar” program has been able to ensure improved and faster identification of beneficiaries, delivery of services at citizens’ doorsteps and monitoring of benefit delivery will be given a boost under this protection scheme social assistance assisted by the World Bank.

The loan under the West Bengal Building State Capability for Inclusive Social Protection operation will strengthen the State’s capacity to expand coverage and access to social assistance and targeted services for poor and vulnerable groups in state, the statement said.

This program supported by the World Bank will help the State to facilitate citizens’ access to social protection services, to medical aid by telemedicine, to improve support for the elderly and the disabled; Financial inclusion of citizens with digital payment, improved targeting, identification and payment of benefits for public schemes, efficient execution and monitoring of social protection schemes; a standardized recipient experience across the state for all social and public services and benefits; and increased efficiency, transparency, and accountability in the delivery of social services and benefits.

Earlier, the World Bank said that the state government will have to engage an Independent Verification Agency (IVA) that will verify the results related to the disbursement and if it proves satisfactory, only the bank will disburse the loan.

According to the State Department of Finance, the State Government and the Bank have agreed to focus Bank financing in two key result areas that contribute to the achievement of the Program Development Objective (PDO) .

Areas include strengthening social protection delivery systems for vulnerable populations, empowering women and vulnerable populations.

In order to provide evidence of continued progress towards the PDO as well as achievement of the intermediate results, the state government and the Bank have agreed on a set of Disbursement Linked Indicators (DDIs).

As part of the deal with the bank, the state government had to engage an IVA that checked periodically, through paper and physical inspection and on-the-spot investigation, where necessary, to confirm the accuracy and quality of results and eligible disbursement amounts claimed by the state government. in its documentation in support of each disbursement request. In accordance with good auditing practice, verification will take place against a verification framework and frequency.

“It will be a huge boost for social welfare schemes. In this pandemic situation where the country is suffering from an economic downturn, it will help the state government to advance its social welfare schemes more effectively,” said a senior finance ministry official.

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