(Image source from: Industrial develovment in UP by World Bank})

The World Bank (WB) has offered to fund existing industrial infrastructure as well as creation of new infrastructure for micro, small and medium enterprises in Uttar Pradesh.

World Bank’s lead urban specialist Barjor Mehta said three sub-regional growth centres on Eastern Dedicated Freight Corridor (EDFC) have been identified by the global bank to make each industrial cluster economically viable.

In a meeting with principal secretary for Industries and Infrastructure Development Sanjiv Saran, a three-member World Bank team, including Mehta and the lender’s senior country economist Denis Medvedev, submitted an infrastructure and investment strategy.

The report contains study in infrastructural gaps to be filled in these sub-regions with high industrial and economic potential for effective and sustainable industrialisation in these sub-regions comprising multiple districts.

Keeping in view the sincerity and alacrity with which the state government has pushed the processes for implementation of EDFC in Uttar Pradesh, the World Bank has included the state in second phase itself.”The World Bank has offered two options for funding – “Development Policy Loan” (DPL) and “Programme-for-Results” instruments.

Aw: Arun Kumar