Mitigating Risks in Power Reform : A New World Bank Lending Approach - Power Sector Reform in the Indian State of Haryana

Mostefai, Djamal

World Bank, Washington, DC

关键词: ACCOUNTABILITY;    ADAPTABLE PROGRAM LOANS;    ADJUSTMENT LOANS;    AGRICULTURE;    AUTHORITY;   

RP-ID  :  17899

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The World Bank has agreed to supportpower sector reforms in Haryana with a new type of lendinginstrument--the adaptable program loan--recently approved byits board of directors.Under this approach, being appliedfor the first time, the Bank will provide a series of loanstotaling US$600 million over eight to ten years, but willcommit the loans only when the state government has reachedagreed milestones.This approach allows the stategovernment milestones--not the covenants of standard WorldBank loans --to determine the timing of controversialactions.The flexibility is intended to improve the reformprogram's chances of success and avoid the stop-startlending pattern that has characterized the Bank's pastlending to state electricity boards.This Note explainsHaryana's reform strategy and how the adaptable programloan applies.Haryana's reform could have an importantdemonstration effect.