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India, Pak among top 10 borrowers

They are among top ten borrowers of World Bank as its lending commitments to S Asia reached $3.8 bn in last year.

india Updated: Aug 08, 2006 11:57 IST

India and Pakistan are among top ten borrowers of the World Bank as its lending commitments to South Asia reached $3.8 billion for the financial year that ended this June.

India received $1.416 million or 6 per cent of the share of total commitments made by bank's two entities -- International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) -- while Pakistan got $1,498 million or 6.3 per cent share of total commitments.

Mexico and Brazil were the largest borrowers, followed by Turkey, Pakistan, China, India and Argentina, the statistics released by the Bank said.

The highest percentage of IBRD/IDA lending went to Latin America and the Caribbean region. It received $5.9 billion or 26 per cent of the total lending.

The Bank's commitments to South Asia accounted for 16 per cent of all loans, grants and credits by IBRD IDA committed in 2006 fiscal. The Global Environment Facility (GEF) operations in South Asia came to $6 millions for fiscal 2006.

Lending commitments to Africa rose 23 per cent in the past financial year or showing a 20 per cent of total lending commitments with $4.8 billion.

Europe and Central Asia had 17 per cent with $4 billion; South Asia 16 per cent with $3.8 billion; East Asia and the Pacific had 14 per cent with $3.4 billion, while the Middle East and North Africa region had seven per cent with $1.7 billion.

First Published: Aug 08, 2006 06:42 IST