labels: world bank, economy - general
India is World Bank''s largest borrower news
04 June 2007

World Bank lending to India is expected to touch $3.8 billion in the 12 months period ending 30 June, making the country the single largest borrower from the multilateral financial institution.

Dhanendra Kumar, executive director, World Bank said, "World Bank''s involvement with India has increased tremendously and the $3.8 billion to be extended till 30 June is the largest amount being extended so far."

Kumar also disclosed that out of the total $3.8 billion, $2.32 billion would comprise zero interest grants and credit provided by the Bank''s International Development Association (IDA). The Bank''s lending to India last year was $1.4 billion.

He said half of the $3.8 billion would be deployed for development projects in rural areas.

The bank is also expected to approve 14 projects by the end of June and would provide additional assistance for two projects already undertaken, he said.

About $929 million, or a third of the total assistance to the country would be earmarked for the health sector to be spent on woman and child healthcare and fighting tuberculosis and HIV AIDS.

 search domain-b
India is World Bank''s largest borrower