India and World Bank signed IDA Credit of 152 Million Dollar for Health Systems Project in UP

India inked an IDA credit worth 152 million dollar with the World Bank on 21 March 2012 to finance the Centre's efforts to help improve the efficiency, quality and accountability of health services in Uttar Pradesh, India’s most populous state.

The Uttar Pradesh Health Systems Strengthening Project (UPHSSP) aims at helping the Uttar Pradesh government to strengthen the management and systems capacity of its health department to deliver the efficient and quality of healthcare services to its people.

IDA, which is the abbreviated form for International Development Association, is an arm of World Bank. Established in 1960, the IDA helps poor countries of the world to improve the living condition of their people. IDA credit is a loan, which the IDA provides to the poor countries at a very less interest rate and for a flexible period of time. IDA credits have zero or very low interest charge and repayments are stretched over 25 to 40 years, including a 5 to 10-year grace period. IDA also provides grants to countries at risk of debt distress.