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WB loans to go up

The World Bank is set to raise its lending to India to $7 billion or Rs 32,200 crore in the current financial year. The average commitment during the last four financial years from the World Bank has been approximately $2.3 billion.

business Updated: Dec 02, 2009 20:30 IST
HT Correspondent

The World Bank is set to raise its lending to India to $7 billion or Rs 32,200 crore in the current financial year.

The average commitment during the last four financial years from the World Bank has been approximately $2.3 billion (Rs 10,580 crore).

World Bank President Robert Zoellick told reporters that newer sectors, including education, health and nutrition apart from infrastructure would be the focus of the multilateral agency.

“We will see how we can deploy our resources,” he said after a meeting with Finance Minister Pranab Mukherjee.

The current outsanding World Bank portfolio in India consists of 68 projects with a total commitment of $19.57 billion (Rs 90,022 crore).

Mukherjee said India is looking forward to an expeditious completion of the process of voice and quota reforms in the multi-lateral agency.

Zoellick is on a three-day visit to the country, his second after taking over as the head of the World Bank.