The World Bank has provided $1 billion loan to India to prevent, detect and respond to the threat of coronavirus and strengthen national health systems for preparedness as India combats the ongoing pandemic.
- But this loan agreement comes with a condition of ‘universal eligibility’ in procurements.
- The “universal eligibility” in procurements mean that all preferential market access policies, including Public Procurement (Preference to Make in India) Order, Micro Small & Medium Enterprises (MSME) Policy, certain benefits to start-ups, shall not be applicable on purchases made while implementing the national project.
- The World Bank would have the right to review the procurement documents, inspect/audit all accounts, records and other files relating to the project. Compliance to these conditions has been made mandatory for the funding.
(Source: The Hindu)
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