ADB and India sign $50 million loan agreement to boost digital platforms for public finance reforms in West Bengal
- The Asian Development Bank (ADB) and the Government of India have inked $50 million policy-based loan agreement on 2nd December 2020 to improve financial management procedures and operational efficiencies in West Bengal.
- Titled as the ‘West Bengal Public Finance Management Investment Programme’, the project will help to achieve more fiscal savings, promote informed decision making, and improve service delivery in the state.
- A centre for fiscal policy and public finance will be established to deepen capacity of the state government officials on public finance management while developing a web-based grievance redress system for transport corporations and urban local bodies will provide a credible citizen-government interface.
Source: PIB