NEW DELHI: The World Bank's lending to India will touch $3.8 billion in the 12 months period ending June 30, making the country the single largest borrower from the multilateral financial institution. "World Bank's involvement with India has increased tremendously and the $3.8 billion to be extended till June 30 is the largest amount being extended so far," World Bank executive director Dhanendra Kumar said. Out of the total $3.8 billion, $2.32 billion would be 'zero interest' grants and credit provided by the Bank's International Development Association (IDA), Kumar said. The Bank's lending to India last year was $1.4 billion. He added that half of the $3.8 billion would be deployed for development projects in rural areas. The bank is also expected to approve 14 projects by the end of June and would provide additional assistance for two projects already undertaken, he said.
Source : PTI
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