Loan for eco-project

 
Last Updated: Saturday 04 July 2015

india is receiving a us $50 million loan from the World Bank for implementing an environmental management capacity building project to ensure the monitoring of and compliance with environmental laws and policies. The credit, which will be provided by the International Development Association, affiliated to the Bank, would be utilised to design laws and standards in the mining sector, ambient air pollution, industrial siting and coastal and marine area management.

It is expected that the implementation of the project would increase the capacity of the ministry of environment and forests and the Central and state pollution control boards to effectively implement, monitor and ensure compliance of environmental laws, policies, priorities and programmes.

According to an official release last December, the total project cost is estimated at us $61.48 million. Currently, the regulatory and institutional decision-making framework for environmental protection in India is embodied in eight major acts. Although there have been efforts on the part of the government to initiate eco-protection measures, the coordination between the Central level and state level implementing agencies are expected to get a facelift following the loan's utilisation.

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