Announcement of Four Million Dollars for Technical Assistance in India on December 31, 1975

•World Bank 1818 H Stre€t, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 IDA NEWS RELEASE NO. 75/82 DECEMBER 31, 1975 $4 MILLION CREDIT FOR TECHNICAL ASSISTANCE IN INDIA A credit of $4 million from the International Development Association (IDA), an affiliate of the World Bank, will finance a technical assistance project in India's forest~y sector. The project will provide over a five-year period technical assistance to enable India and the State of Madhya Pradesh to develop and prepare wood processing schemes based on the forest resource in the Bastar • District of the State. The project will help to identify a sound resource base for pulp, paper and related industries and while these industries are under construction, to develop and explore satisfactory logging, species and planting methods for fast-qr0\~1nq plantation. The project is scheduled to be comoleted in 1981 at a total estimated cost of $8.2 million. Implementati~n of the project will be the responsibility of the Project Manager, Madhya Pradesh State Forest Development Corporation, Bhopal, Madhya Pradesh. The IDA credit is for a tenn of 50 years, including 10 years of grace. It is interest-free except for a service charqe of 3/4 of 1% to meet IDA's administrative expenses • • Note: Money figures are expressed 1n US dollar equivalents.