This story is from March 6, 2019

Chhattisgarh State inks $25 million loan deal with World Bank

Chhattisgarh State inks $25 million loan deal with World Bank
Officials after signing the deal
RAIPUR: Government of Chhattisgarh signed a loan agreement of $25.2 million with World Bank to support Chhattisgarh Public Financial Management and Accountability Program.
The loan agreement aims to develop an integrated financial management system along with improved public services delivery platform for the state under Chhattisgarh Public Financial Management and Accountability Program.

As per a state finance department official, the program is intended to bring state-of-the-art financial management system based on international and national best practices which will involve establishing new and modern Integrated Financial Management and Management Information System (IFMIS) in place of current treasury software and setting up of fiscal cell by developing finance department officers capacity through training.
The program would run over a period of five years and the important participating departments include Finance Department and its Directorate of Treasury Accounts and Pension, State Urban Development Authority, Department of Panchayat and Rural Development apart from other revenue earning departments of the State Government. The Program will support reforms that will contribute toward improving expenditure planning, investment management, budget execution, financial control, public procurement and accountability which ultimately will strengthen the financial system of the state. The improved public service delivery is also one of the objectives under the program.
The program is being implemented under the guidance of chief minister Bhupesh Baghel, who also holds the finance portfolio and additional chief secretary (finance) Amitabh Jain.
Finance Secretary Dr Kamalpreet Singh signed the agreement on behalf of Chhattisgarh state government while Sameer Khare, Additional Secretary Government of India and Hisham Abdo, Acting Country Director, World Bank signed on behalf of Government of India and World Bank respectively.
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