labels: world bank, economy - general
World Bank approves $65-million credit for rural anti-poverty project in Andhra news
11 July 2007

Washington: A programme that has improved the lives of around 5.7 million women in Andgra Pradesh since its inception in 2003, the Andhra Pradesh rural poverty reduction project, has received an additional funding of $65 million from the World Bank.

The project aims to enable the rural poor improve their livelihoods and quality of life. The Bank says that it has mobilised around 5.7 million poor women, or 80 per cent of the poor in the project districts, into nearly 470,000 self-help groups.

In a statement, the Bank said, the fresh funding would finance critical investments in institution and capacity building which will allow community institutions of poor women become sustainable and self-reliant. It will also support investments in livelihood-based institutions like business franchises and producer companies.

Isabel Guerrero, World Bank country director for India, said, "This project has been critical in developing self-help managed institutions for the poor."

Such institutions run by the poor have collective savings of $226.7 million, and leveraged commercial bank linkages of $883 million since 2003.

"The groups have used seed money to pool resources and make small loans to each other help pay for education, medical treatment, food, and other small but important needs. The self-help groups have formed federations, leveraging their finances and influence, and even began to deliver insurance, ambulance, extension, commercial and government services," the Bank said.


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World Bank approves $65-million credit for rural anti-poverty project in Andhra