Govt Inks $54-M Food, Drug Project With World Bank

New Delhi, September 29: | Updated: Sep 30 2003, 05:30am hrs
The government and the World Bank signed a food & drug capacity building project here on Monday. The project, which involves a $54-million credit, aims at improving the quality and safety of food and drugs in the country, was approved by the Banks board on June 5.

The project was signed by Ranjit Bannerji, joint secretary in the department of economic affairs, and the World Banks India country manager Michael F Carter. It will be the first stage of a long-run programme supporting the government of Indias vision of ensuring safe and high quality food and drugs for the Indian public, said Mr Carter.

The project has three components: policy development, programme coordination and monitoring; food safety; and drugs quality and safety. The project will also support some key policy and institutional developments, such as increased government regulatory efficiency, and partnership between the public and private sectors, says a press release of the World Bank.

The Union ministry of health & family welfare will implement the project through its existing directorates for foods and drugs quality control. The credit from the International Development Association, the banks concessionary lending arm, carries no interest and has a 35-year maturity.