The Bihar government on Monday signed a memorandum of understanding (MoU) with State Bank of India (SBI) for launching a Rs 306 crore World Bank-aided rural livelihood project chirstened 'Jeevika'.
The MoU was signed by SBI chairman O P Bhatt and chief executive officer of 'Jeevika' Arvind Choudhry in the presence of Deputy Chief Minister Sushil Kumar Modi and the bank's general manager A K Dev.
World Bank has agreed to provide Rs 264.40 crore and the state government's share would be Rs 29.40 crore, Modi told reporters, adding the rest of the money would be the share of the beneficiaries.
World Bank sanctioned the project for forming self help groups in 42 blocks of six Bihar districts at its meeting in Washington on June 14, Modi said.
In the first phase 4000 villages of 776 panchayats falling under the districts of Nalanda, Gaya, Khagaria, Muzafarpur, Purnea and Madhubani would be covered under the scheme and would be later extended to other districts.
Modi said SBI had disbursed over Rs 3000 crore in Andhra Pradesh to SHGs and the same could be achieved in Bihar provided the SHGs were formed and they take the benefits of several schemes launched by the nationalised banks.
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