World Bank to provide $18 bn aid to India in three years
Thursday, July 24, 2014
The World Bank Wednesday said it will provide financial support of $15-18 billion to India over the next three years to help accelerate economic growth and reduce poverty.
Talking to media persons after meeting Prime Minister Narendra Modi here, World Bank group president Jim Yong Kim said the Indian government has outlined a comprehensive plan to reduce poverty and return to over nine percent economic growth trajectory.
“The new government would like India to return to growth rate of nine percent a year. The World Bank group fully supports this goal,” he said.
“It is vital that India achieve these levels of growth to reduce poverty more quickly and to boost shared prosperity among its people.”
Kim said the World Bank was impressed by the Modi government’s commitment to accelerate growth.