Press Esc to close
Sunday 21 September 2014
News updated at 7:34 PM IST
Weather
Max: 27.1°C
Min : 20.1°C
In Bangalore
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
Ceremonial elephant Arjuna carries a wooden howdah in Mysore ...

Ceremonial elephant Arjuna carries a wooden howdah in Mysore ...

Sharad Yadav  with President of Socialist Janata (Democratic) Veerendra Kumar ...

Sharad Yadav with President of Socialist Janata (Democratic) Veerendra Kumar ...

Chennai Super Kings Skipper Dwayne Bravo and Ashish Nehra shares a moment during a practice ...

Chennai Super Kings Skipper Dwayne Bravo and Ashish Nehra shares a moment during a practice ...

Ban Ki-moon presents a certificate of honour to Hollywood star Leonardo DiCapriiyo ...

Ban Ki-moon presents a certificate of honour to Hollywood star Leonardo DiCapriiyo ...

Jitu Rai during the 10M air Pistol qualification shooting event at the 17th Asian Games ...

Jitu Rai during the 10M air Pistol qualification shooting event at the 17th Asian Games ...

Women clad in traditional 'ghagra choli' practice the 'Garba' dance in Ahmedabad ...

Women clad in traditional 'ghagra choli' practice the 'Garba' dance in Ahmedabad ...

A bridge that connects Pulwama to Srinagar lays destroyed due to the Jammu and Kashmir flood  ...

A bridge that connects Pulwama to Srinagar lays destroyed due to the Jammu and Kashmir flood ...

Saina Nehwal plays a shot against Korea's Sung jihyun during their Badminton singles semi final ...

Saina Nehwal plays a shot against Korea's Sung jihyun during their Badminton singles semi final ...

Katrina Kaif with Audi India Head, Joe King during the launch of Audi 2015 autumn collection ...

Katrina Kaif with Audi India Head, Joe King during the launch of Audi 2015 autumn collection ...

Katrina Kaif and Hrithik Roshan showcase the Pantaloons limited edition collection in Mumbai ...

Katrina Kaif and Hrithik Roshan showcase the Pantaloons limited edition collection in Mumbai ...

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