• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Universal Eligibility for World Bank Loan

January 28, 2021
in Economy
Reading Time: 2 mins read
0
Universal Eligibility for World Bank Loan
157
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In News

  • The $1 billion World Bank loan to curb covid pandemic for India comes with a condition of “universal eligibility” in procurements.
  • Of the 1 billion USD aid, around 550 million USD is to be credited by the IDA (International Development Association) and 220 million USD by the IBRD (International Bank of Reconstruction and Development). The final maturity amount of the loan is 18.5 years. It also includes a grace period of five years.

Universality Eligibility

  • This would mean that all preferential market access policies, including Public Procurement Order, Micro Small & Medium Enterprises (MSME) Policy, certain benefits to start-ups, shall not be applicable on purchases made while implementing the national project.

Other conditions set by the World Bank:

  • The World Bank would have the right to review the procurement documents, inspect/audit all accounts, records and other files relating to the project. 
  • Compliance to these conditions has been made mandatory for the funding.

Impact

  • This would mean that all preferential market access policies, shall not be applicable on purchases made while implementing the national project.
  • The preferential market access policies includes Public Procurement (Preference to Make in India) Order, Micro Small & Medium Enterprises (MSME) Policy, certain benefits to start-ups.
  • it will be a setback to the Make in India and Atmanirbhar initiative.

World Bank Group

  • With 189 member countries, the World Bank Group is a unique global partnership which consists of five development institutions.
  • International Bank for Reconstruction and Development (IBRD) provides loans, credits, and grants.
  • International Development Association (IDA) provides low- or no-interest loans to low-income countries.
  • The International Finance Corporation (IFC) provides investment, advice, and asset management to companies and governments.
  • The Multilateral Guarantee Agency (MIGA) insures lenders and investors against political risk such as war.
  • The International Centre for the Settlement of Investment Disputes (ICSID) settles investment-disputes between investors and countries.
    • India is not a member of ICSID.

 

image_pdfMake PDF
Source: The Hindu
Tags: News PaperPrelims

Related Posts

Open Network for Digital Commerce (ONDC)

Open Network for Digital Commerce (ONDC)

August 11, 2022
Start-up India Seed Fund Scheme (SISFS)

Start-up India Seed Fund Scheme (SISFS)

August 9, 2022
National handloom Day

National handloom Day

August 8, 2022
RBI’s seven Surveys on Indian Economy

RBI’s seven Surveys on Indian Economy

August 8, 2022
Fifth anniversary of the Centre for Trade and Investment Law (CTIL)

Fifth anniversary of the Centre for Trade and Investment Law (CTIL)

August 6, 2022
RBI hikes Repo Rate by another 50 basis points

RBI hikes Repo Rate by another 50 basis points

August 6, 2022
Central Consumer Protection Authority( CCPA)

Central Consumer Protection Authority( CCPA)

August 5, 2022
Gati Shakti University

Gati Shakti University

August 4, 2022
Slump of Indian Rupee

Slump of Indian Rupee

August 3, 2022
Patent Agents

Patent Agents

August 2, 2022
Please login to join discussion

Our Offline Classroom Student

PRELIMS 2021 POLITY QUESTIONS ANALYSED

https://youtu.be/5q8hBcRGhAs

PRELIMS 2021 HISTORY QUESTIONS ANALYSED

https://youtu.be/v0SIZ7SUybg

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

August 2022
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 
« Jul    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In