Saturday, April 4, 2009
India to seek additional assistance of $5.2 bn from the World Bank for its financial sector and infrastructure projects
Posted by Steve Benn at 1:12 AMAssured a greater say into the affairs of multilateral lending institutions, India will seek additional assistance of $5.2 bn from the World Bank for its financial sector and infrastructure projects, officials said.
The main component of this assistance is for recapitalisation of state-owned commercial banks over the next two to three years, Indian officials here said.
The rest of the amount is for infrastructure finance companies and power grid corporations.
India normally gets assistance worth $ 3 bn from the World Bank annually of which half is given in concessional form.
Source: CNN-IBN
Labels: Business News
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