New Delhi: The World Bank on March 15 approved 665 million Dollars in loans for four projects in India aimed at reducing poverty and improving transport system.

World Bank approved a total amount of 350 million Dollars for two projects to support economic reforms in Andhra Pradesh and Karnataka, and another 315 million Dollars to support improvements of transport network in Mizoram and Kerala, a World Bank release said here.

The Bank's decision-making board has approved a 250 million Dollar loan for Andhra Pradesh and 100 million Dollar loan for Karnataka for undertaking structural adjustments including fiscal reforms and efforts to make government more transparent and efficient.

"There is a broad agreement in India on the need for reforms at the state level to accelerate growth and poverty reduction," World Bank Country Director for India Edwin Lim was quoted as saying.

"These types of projects reinforce initiatives by the Government of India to support and facilitate state reforms and both Andhra Pradesh and Karnataka are reform leaders among India's states," he said.

The loan for the project in Andhra Pradesh is accompanied by a 65 million Pounds grant from United Kingdom.

The Bank approved 255 million Dollars loan for Kerala State Transport Project and another 60 million Dollars for Mizoram State Roads Project aimed at supporting physical and management improvements of transport networks.

Under 'Second Karnataka Economic Restructuring' programme, the state receives 50 million Dollars each from the World Bank and the IDA. This loan/credit is the second in a series designed to assist the State Government in implementing and financing its ongoing reform agenda.

This agenda comprises a commitment to return fiscal sustainability to the state, to improve service delivery and accelerate growth.

Andhra Pradesh Economic Reform loan/credit programme is the first budgetary support operation of the World Bank to benefit the government of Andhra Pradesh. It is co- financed by the Department for International Development of the United Kingdom, which is providing an additional grant of 65 million Pounds.

The state government's Andhra Pradesh Economic Reform Programme, which this operation supports, has three major components: fiscal reforms, public expenditure management and financial accountability reforms; and governance reforms.

PTI