Press Esc to close
Saturday 27 May 2017
News updated at 9:24 AM 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
Back to school.

Back to school.

Karnataka Rajya Saarkari Hostel Mattu Vasati Shala Horaguttige Noukarara Sangha Protest

Karnataka Rajya Saarkari Hostel Mattu Vasati Shala Horaguttige Noukarara Sangha Protest

A labourer at a salt pan in Mumbai

A labourer at a salt pan in Mumbai

Manchester attack: Flower tributes.

Manchester attack: Flower tributes.

Indian Open of Surfing 2017

Indian Open of Surfing 2017

Protesters run as they prepare to hurl stones towards the police.

Protesters run as they prepare to hurl stones towards the police.

Delhi Metro's Heritage Line

Delhi Metro's Heritage Line

Dhola-Sadia bridge

Dhola-Sadia bridge

Opposition leaders meet to discuss presidential poll

Opposition leaders meet to discuss presidential poll

Youth Congress protest against three years of BJP rule

Youth Congress protest against three years of BJP rule

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.