Press Esc to close
Saturday 30 May 2015
News updated at 1:34 AM IST
Weather
Max: 33°C
Min : 22.3°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
Devotees arrive at Sangam to take holy bath in Ganga River

Devotees arrive at Sangam to take holy bath in Ganga River

Students celebrate their success after the announcement of CBSE class 10th results...

Students celebrate their success after the announcement of CBSE class 10th results...

Monkeys drink water from a tap on a hot day...

Monkeys drink water from a tap on a hot day...

Bollywood actors Arjun Kapoor, Shahid Kapoor, Sonakshi Sinha, Anil Kapoor and Hrithik Roshan...

Bollywood actors Arjun Kapoor, Shahid Kapoor, Sonakshi Sinha, Anil Kapoor and Hrithik Roshan...

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar sit on Silver Throne...

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar sit on Silver Throne...

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar and Pramoda Devi Wadiyar....

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar and Pramoda Devi Wadiyar....

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar sit on Silver Chariot...

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar sit on Silver Chariot...

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar perform a Yagna during....

Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar perform a Yagna during....

Relatives of Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar ...

Relatives of Adopted son Yadhuveer Krishnadatta Chamaraja Wadiyar ...

Yaduveer Krishnanadatta Chamaraja Wadiyar at a ritual in Mysore on Wednesday....

Yaduveer Krishnanadatta Chamaraja Wadiyar at a ritual in Mysore on Wednesday....

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