Bengal to take Rs 2,500 cr loan from World Bank for infra development

Kolkata, Aug 20

West Bengal government is taking a Rs 2,500 crore loan from the World Bank and the entire money will be utilised for the purpose of infrastructure development in the state.

Sources in the state finance department said the focus area of infrastructure development through utilisation of the loan amount will be improvement of road networks and water transport systems in the state.

“The government wants to emphasise on improving exports from the state in the next 10 years, for which it is necessary to develop a quick transit system. So, work on this count will stat before the forthcoming Bengal Global Business Summit scheduled in November this year,” said a senior official in the finance department.

Apart from overall infrastructure development, the official said the loan amount will be utilised for special training of the people engaged in the logistic sector.

The state government has already set a target for setting up four economic corridors covering an area of 930 km. Out of that, the longest corridor of 630 km will be in North Bengal and the remaining three will be in South Bengal.

“The development of these economic corridors will enable the state government to showcase Bengal in a better manner to the potential investors,” the official said.

Industry observers feel that while such initiatives are undoubtedly positive steps, no effort to attract big ticket investments will bear fruit unless the land and special economic zone policies of the state government are changed.