Bhubaneswar, June 21: The World Bank, which has pledged a $350-million loan to Orissa to fund power sector reforms, reassured the state government that the sanctions imposed by the US in the wake of the nuclear tests will not affect the deal.World Bank's representative Carry Nyman on Saturday dispelled fears that the sanctions would have its bearing on the power sector reforms being carried out in the state.
He said people will have no faith in the World Bank if this loan is denied to Orissa which has pioneered the power sector reforms at the state level in the country.
A four-member team of the World Bank and the Department for International Development (DFID) met Orissa chief minister JB Patnaik and senior officials of the state government to discuss the progress made in power sector reforms. Expressing its satisfaction over the reforms process, the team advised the Orissa government to support Gridco till it is privatised.
The state government was also urged to expedite the transfer ofengineering personnel to Gridco.
Orissa's chief minister Patnaik assured the representatives of the overseas funding agencies that the state government will provide the necessary permissions and guarantees to Gridco to raise funds from the debt market.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
