world bank lending $4.3b to india

The World Bank has approved $4.3 b in loans for India to help finance infrastructure projects and support its economic incentive programme.'This is the critical time to sustain Indian economic recovery,' and this money will be directed especially towards four projects said World Bank country director for India Roberto Zagha. Of the total amount, World Bank said it would provide $2 b to India's banking sector designed to develop the quantity of credit available to firms.

World bank also approved $1.2 billion for the India Infrastructure Finance for financing public-private partnerships in infrastructure and to encourage the development of a long-term local currency debt financing market and $1 billion to address India's acute power shortages by assisting the PowerGrid, the national electricity distribution company, with its investment programme after a freeze up in overseas lending.The bank also provided $150 million to Andhra state to improve water supply and sanitation services for 2,600 villages across six districts.