India to get 14 bn dollars from WB for infrastructure projects, MDG

December 12th, 2008 - 8:35 pm ICT by ANI  

New Delhi, Dec 12 (ANI): India will get 14 billion dollars from the World Bank over the next three years to facilitate infrastructure development projects and to achieve the Millennium Development Goals.

The World Bank Groups new Country Strategy for India, discussed by the Institutions board, envisages a total proposed lending program of 14 billion dollars for the next three years, the World Bank said in a statement.

The bulk loan offered to India is for developing its infrastructure projects and to achieve the Millennium Development Goals.

The World Bank Group is tailoring its assistance to India both to fast-track much-needed infrastructure development and to support the country’’s seven poorest states achieve better living standards, the World Bank said.

Further, part of the loan would be spend in the seven low-income states — Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh — to support the poverty reduction programmes.

Meanwhile, World Bank Economic Adviser Giovanna Prennushi said, The strategy is designed to boost support to these states, but also not to forget about the poorest people in India’’s middle income states. (ANI)

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