illusion8
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The World Bank will step up its lending to India to $5-6 billion annually over the next three years from the earlier commitment of $3-5 billion a year to help the country return to the higher growth orbit, which is critical for boosting jobs and reducing poverty.
The World Bank will step up its lending to India to $5-6 billion annually over the next three years from the earlier commitment of $3-5 billion a year to help the country return to the higher growth orbit, which is critical for boosting jobs and reducing poverty.
World Bank president Jim Yong Kim, who met Prime Minister Narendra Modi and finance minister Arun Jaitley, endorsed the government's commitment on reforms and said the multilateral agency would support the development initiatives with financing, as well as knowledge and capacity building. "The new government would like to return to growth rate of 9%," he said.
While the specific issues on funding were not discussed, Kim said the bank will lend $15-18 billion in
the next three years, including about $3.4 billion in
concessional loans from International Development Association (IDA).
The International Bank for Reconstruction and
Development (IBRD) has
also recently increased the single borrower limit for
India to $20 billion from $17.5billion.
The government's agreement to purchase Special Private Placement Bonds (SPPBs) of up to $4.3 billion will create additional opportunities for continued assistance to India as it strives to revive growth, Kim said.
World Bank to lend India $15-18 billion by 2017 - Financial Express
The World Bank will step up its lending to India to $5-6 billion annually over the next three years from the earlier commitment of $3-5 billion a year to help the country return to the higher growth orbit, which is critical for boosting jobs and reducing poverty.
World Bank president Jim Yong Kim, who met Prime Minister Narendra Modi and finance minister Arun Jaitley, endorsed the government's commitment on reforms and said the multilateral agency would support the development initiatives with financing, as well as knowledge and capacity building. "The new government would like to return to growth rate of 9%," he said.
While the specific issues on funding were not discussed, Kim said the bank will lend $15-18 billion in
the next three years, including about $3.4 billion in
concessional loans from International Development Association (IDA).
The International Bank for Reconstruction and
Development (IBRD) has
also recently increased the single borrower limit for
India to $20 billion from $17.5billion.
The government's agreement to purchase Special Private Placement Bonds (SPPBs) of up to $4.3 billion will create additional opportunities for continued assistance to India as it strives to revive growth, Kim said.
World Bank to lend India $15-18 billion by 2017 - Financial Express
