World Bank to offer transition support of $3.5 billion to India for infrastructure, education initiatives
Tuesday, June 10, 2014
NEW DELHI: The World Bank will continue its concessional lending meant for poorer countries to India and has also significantly upped the country’s single-borrower limit, looking to provide a helping hand to the new government in taking forward its agenda on infrastructure, skilling, river cleaning and tourism.
“We have concluded IDA-17 (July 2014-June 2017) negotiations. India has got a transition support of $3.5 billion,” World Bank country director for India Onno Ruhl told ET.
India’s single-borrower limit has gone up to $20.5 billion after this increase. The World Bank provides funds through the International Development Association (IDA), the development bank’s fund for the poorest, and International Bank for Reconstruction and Development (IBRD).