World Bank lending to India to touch $ 4 bn

World Bank lending to India to touch $ 4 bn
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First Published: Mon, Feb 12 2007. 05 00 PM IST
Updated: Mon, Feb 12 2007. 05 00 PM IST
Agencies
New Delhi: World Bank today said its lending in India is estimated to increase from its current annual average of 2.5 billion dollars to an average of 4 billion dollars over the next two-three years, with special focus on strengthening infrastructure, supporting lagging states and scaling up service delivery.
Announcing the appointment of Isabel Guerrero as the World Bank’s new country director of India, its regional vice president for South Asia, Praful C Patel said: “an expanded portfolio will also mean wider challenges in improving implementation performance, quality of expenditure and monitoring and evaluation among others.”
World Banks’ lending stood at 2.9 billion dollars during 2004-05, 1.4 billion dollars next year, and is estimated to touch 3 billion dollars this fiscal, he said.World Bank is currently engaged in 63 projects worth about 12.7 billion dollars in India.India is the largest beneficiary of World Bank’s cross lending arm Indian Banks’ Association(IBA) and the fourth-largest borrower of Internatiopnal Bank for reconstruction and Development(IBRD).
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First Published: Mon, Feb 12 2007. 05 00 PM IST