Total lending to India in 2010 to touch $9.3 b.: World Bank


New Delhi: The World Bank said its total lending to India will touch $9.3 billion for the fiscal ending June this year.

The total expected lending this year includes $2.6 billion in interest-free credit and $6.7 billion in the form of a long-term, low interest loan, the World Bank said in a statement.

“Part of this lending is in support of the government of India’s response to the global financial crisis. Another significant portion is aimed at helping the country remove infrastructure constraints to high growth,” World Bank Country Director (India) Roberto Zagha said.

These loans are spread across five new projects and are aimed at helping India sustain growth.
The World Bank follows a  fiscal year from July to June.

The lending also includes a $2 billion package to provide capital to facilitate credit expansion of some of the public sector banks and prevent a shortfall of capital from affecting India’s economy in the wake of the global economic crisis, he added.

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