India’s $960 Million Drinking Water Project Gets World Bank Aid

India’s $960 Million Drinking Water Project Gets World Bank Aid

The World Bank is helping offset almost half of the costs of a $960 million drinking-water project to bring piped supplies to rural residents of four low-income states in India, the government said today. Women and children will benefit in particular from the project in the states of Assam, Bihar, Jharkhand and Uttar Pradesh “as they currently bear most of the burden of securing daily water supplies,” India’s Cabinet Committee on Economic Affairs said in a statement. The 12th five-year plan for rural water supplies envisions raising piped water coverage to 50 percent of India’s non-urban population with 30 percent of the rural residents having household tap connections. The national and state governments will supply almost all of the remaining project costs. The government of India will repay the $500 million extended as credit by the World Bank over a 25-year period, it said.

To contact the reporter on this story: Randall Hackley in London at

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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