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The total will include $12 billion in new projects and over $18 billion funds from existing food and nutrition-related projects that have been approved but have not yet been disbursed, the bank said.
The island nation's budget was currently unsustainable, Ali Sabry told a parliament session, adding he expected to bring in a new budget.
- American technology giants and multinationals firms either committed to invest in India or evinced interest in setting up their facilities in world’s fastest growing economies.
- The country’s finance minister Ali Sabry held a series of meetings in Washington with the officials from the IMF, the World Bank, India and others, seeking financing help.
The International Monetary Fund had revised its India growth to 8.2 per cent, down by 0.8 base points from the previous year. The World Bank had also cut its economic growth forecast for India from 8.7 per cent to 8 per cent.
ByHT News Desk | Written by Aryan Prakash