The World Bank has approved a loan of $188.28 million to support economic growth in Maharashtra, particularly focusing on the state's underdeveloped districts. The funding aims to strengthen district-level planning and development strategies to promote growth and job creation.

This loan will provide the necessary resources, including data, funding, and expertise, to help local governments make the most of public money. By improving district-level planning, the project aims to unlock the potential for long-term growth.

The initiative also focuses on increasing private sector involvement, particularly in the tourism industry, by enhancing e-government services for businesses in these districts.

Auguste Tano Kouame, the World Bank’s Country Director for India, emphasized that this project will improve planning and policy-making, enhance collaboration between the public and private sectors, and improve service delivery to the public—key components for fostering broad-based growth, especially in underserved areas.

The operation will also help unlock valuable data by creating a new data governance system, including the Maha Databank. This platform will enable better coordination, integration, and analysis of state development data, helping address significant challenges, including gender disparities.

Additionally, the project will establish an incentive framework that rewards districts for meeting performance targets, while also enhancing two key online platforms: MAITRI 2.0, which serves the private sector, and the RTS portal, which handles all government services. These improvements will make it easier for businesses to access government services in a timely manner.

The $188.28 million loan is provided by the International Bank for Reconstruction and Development (IBRD) with a 15-year repayment period, including a 5-year grace period.