Andhra Pradesh gets new $1bn loan

The World Bank has announced assistance worth $1bn for the southern Indian state of Andhra Pradesh in view of its "success" in carrying out reforms.

The bank said that it wanted to carry on supporting the state government's efforts in various fields.

It said these efforts had been capably and professionally implemented.

The bank says around $500m will be lent for irrigation, while the remainder will be lent for "structural adjustments and urban reforms".

It says that the money will be lent over a period of three to four years.

Source
BBC