World Bank to offer transition support of $3.5 billion to India for infrastructure, education initiatives
Tuesday, June 10, 2014
NEW DELHI: The World Bank will continue its concessional lending meant for poorer countries to India and has also significantly upped the country’s single-borrower limit, looking to provide a helping hand to the new government in taking forward its agenda on infrastructure, skilling, river cleaning and tourism.
“We have concluded IDA-17 (July 2014-June 2017) negotiations. India has got a transition support of $3.5 billion,” World Bank country director for India Onno Ruhl told ET.
India’s single-borrower limit has gone up to $20.5 billion after this increase. The World Bank provides funds through the International Development Association (IDA), the development bank’s fund for the poorest, and International Bank for Reconstruction and Development (IBRD).
Source: Economic Times India (link opens in a new window)
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