Where the impacts of the investment may be experienced.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
- Asian Development Bank (ADB)
Bank Risk Rating: C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
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West Bengal State Finance Sector Development Program
ADB and the Government of West Bengal have been working together since 2011 to improve the finances of the Government of West Bengal. The West Bengal State Finance Sector Development Program will help the state government to consolidate the public financial management reforms initiated under the first program (West Bengal Development Finance Program). The proposed program will also help the state to facilitate an enabling environment for private investment.
PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY
The densely populated Indian state of West Bengal has high government expenditures, mostly concentrated in education and health, as well as salaries, pensions, and interest payments, but it generates little revenue. To fill this gap, the government must borrow and use other inefficient methods to pay for expenses. This has trapped the state in a vicious cycle of debt, which as in turn put pressure on public resources and constrained the delivery of public goods and services.
The program is aligned with the state Government's effort to improve accessibility, quality, and affordability of public services (Source: Annual Plan Statements for 2013- 14, Department of Planning, Government of West Bengal. Priorities under the Plan remain the same).
Investment in the state, both private and public, improved and sustained
A piggyback TA for $400,000 will be approved along with the Second West Bengal Development Finance Program.
- Asian Development Bank (ADB)
Loan: Second West Bengal Development Finance Program
Ordinary capital resources US$ 300.00 million
TA: Second West Bengal Development Finance Program
Technical Assistance Special Fund US$ 500,000.00
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main
Responsible ADB Officer Karan, Navendu
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Finance Department - Government of West Bengal
Finance Department , Government of West
Bengal Writers' Building,
Kolkata 7000001, India