Press Esc to close
Sunday 23 April 2017
News updated at 5:21 PM IST

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

WASHINGTON,Apr 12, 2013 , (Reuters) - 8:37 IST
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
A group of flamingos at Sewri Jetty in Mumbai...

A group of flamingos at Sewri Jetty in Mumbai...

Union Minister for Water Resources and Ganga Rejuvenation Uma Bharati being welcomed ...

Union Minister for Water Resources and Ganga Rejuvenation Uma Bharati being welcomed ...

Lithium Urban Technologies has created an eco -friendly solutions for corporate transport...

Lithium Urban Technologies has created an eco -friendly solutions for corporate transport...

The French air force's Patrouille Acrobatique de France aerobatic team performs at Langley...

The French air force's Patrouille Acrobatique de France aerobatic team performs at Langley...

Smoke billows out after a major fire broke out in Railway Coach Factory at Nishatpura in Bhopal...

Smoke billows out after a major fire broke out in Railway Coach Factory at Nishatpura in Bhopal...

Girls with painted faces taking part in an awareness campaign on the occasion of World Earth Day...

Girls with painted faces taking part in an awareness campaign on the occasion of World Earth Day...

A Tamil Nadu farmer drinks urine during their ongoing protest over drought relief funds...

A Tamil Nadu farmer drinks urine during their ongoing protest over drought relief funds...

A two wheeler moves through a waterlogged street after heavy downpour in Agartala...

A two wheeler moves through a waterlogged street after heavy downpour in Agartala...

School girls with painted faces during 'Save Earth' awareness program on the eve of World Earth...

School girls with painted faces during 'Save Earth' awareness program on the eve of World Earth...

AC machine does on road level work at Kalaburgi Airport at Srinivas Saradagi in the outskirts...

AC machine does on road level work at Kalaburgi Airport at Srinivas Saradagi in the outskirts...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.