Press Esc to close
Wednesday 26 November 2014
News updated at 11:51 AM IST
Weather
Max: 29.1°C
Min : 17°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
It is business as usual in Leopold Cafe on the eve of the anniversary ...

It is business as usual in Leopold Cafe on the eve of the anniversary ...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

Models pose with a car during the inauguration of the Lamborghini showroom...

Models pose with a car during the inauguration of the Lamborghini showroom...

Women from the Delhi police force, undergo martial arts training...

Women from the Delhi police force, undergo martial arts training...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

A Sun Bird sits on a branch of Jacaranda flower tree...

A Sun Bird sits on a branch of Jacaranda flower tree...

BJP MP'S meeting in Parliament house...

BJP MP'S meeting in Parliament house...

Bipasha Basu and Milind Soman at Pinkathon announcement

Bipasha Basu and Milind Soman at Pinkathon announcement

Modi with BJP leaders at an election rally in Jharkhand

Modi with BJP leaders at an election rally in Jharkhand

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