Press Esc to close
Saturday 21 January 2017
News updated at 9:52 AM IST
Weather
Max: 28.9°C
Min : 15.3°C
In Bengaluru
Sunny day

World Bank says to lend India up to $5 billion a year

WASHINGTON,Apr 12, 2013 , (Reuters) -
A man collects empty plastic bottles to be recycled at a factory in a slum in Mumbai March 15, 2013.  Credit: Reuters
The World Bank said on Thursday it would lend between $3 billion to $5 billion annually to India under a new four-year plan that focuses development projects on the country's poorest states.

The World Bank said in a statement that 60 percent of the financing will go to government-backed development projects and half of this, or 30 percent, will go to the country's poorer states. Under the previous strategy, about 18 percent of lending went to these states.

Earlier this month World Bank President Jim Yong Kim urged the international community to eradicate global poverty by 2030. He said the strategy for India would be the first by the bank to hone in on areas where developing financing would have the biggest impact on India's poorest.

The Bank said the plan aims to cut poverty in India to 5.5 percent of the population by 2030 from an estimated 29.8 percent in 2010.

 

Go to Top

Photo Gallery
American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

American citizens attend a vigil for democracy and to pay a tribute to former U.S. President...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

President Barack Obama and first lady Michelle Obama pose with President-elect Donald Trump...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

Barron Trump and Eric Trump arrive for inauguration ceremonies...

President Donald Trump walks with first lady Melania Trump after walking...

President Donald Trump walks with first lady Melania Trump after walking...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Incoming VP Pence, President-elect Trump, outgoing President Obama and outgoing VP Biden...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

Army officers stand on Indian Army's Pinaka multi-barrel rocket launcher system...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

75,000 people gather for a mass protest to support Jallikattu in Coimbatore...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

Students of an art school apply finishing touches to a portrait of President elect Donald Trump...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

A worker removes snow from the roof of a hotel on a sunny day in Gulmarg, west of Srinagar...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

President Pranab Mukherjee with West Bengal Governor KN Tripathi, Chief Minister...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523