WB to fund projects only in reform-friendly states

  • 03/12/1999

  • Economic Times (New Delhi)

It might become even more difficult for some states to avoid economic reforms now. The World Bank has evolved a new methodology for financing projects in India, under which a project will be funded only if the state, where the project is located, is in sound financial health. Under this approach, only four states-- Andhara Pradesh, Karnataka, Maharashtra, and surprisingly, Uttar pradesh, -- are being considered for aid from the Bank.