Financial Daily from THE HINDU group of publications
Friday, Apr 30, 2004
Financial Daily from THE HINDU group of publications Friday, Apr 30, 2004 |
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Money & Banking
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RBI & Other Central Banks IBRD ready to offer more loans to India Our Bureau
New Delhi , April 29 THE World Bank is ready to offer more concessional loans to India. The assistance on offer for the year 2004-05 could be in the range of $3 billion-$4 billion, according to Mr C.M. Vasudev, Executive Director for India at the World Bank. "The total assistance that we can offer for 2004-05 could be around $3 billion-$4 billion. This will include the $2 billion that would be available for infrastructure development," he told newspersons on the sidelines of a workshop on Economic Zones, organised by the International Finance Corporation (IFC) here. Mr Vasudev said the Bank had put in place an Infrastructure Action Plan to increase its emphasis on lending for infrastructure. He held that there is an active pipeline of Indian projects that could utilise this window. "There will be a lot of funding available from the Bank for education and infrastructure. There is also the thinking that the front-end fees of 1 per cent payable by a borrower on the loans that he avails of from the Bank need to be reduced," he said.
More Stories on : RBI & Other Central Banks | Overseas Borrowings
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