The World Bank, which has decided to step up its exposure to India to 14 billion US dollar in the next three years, will soon clear a 2,6 billion dollar special loan package.
Under the package, India Infrastructure Finance Company is expected to get 1,2 billion, Small Industries Development Bank of India (SIDBI) 400 million and Power Grid Corporation 1 billion.
The Bank is in advanced stages of approving this special package, World Banks Economic Adviser for India Giovanna Prennushi said.
The World Bank is also working on a 3 billion dollar loan to recapitalize public-sector banks.
Meanwhile, the World Bank Chief Economist & Senior Vice-President Justin Yifu Lin said Friday, that India can turn the current gloomy economic scenario into an opportunity by investing in infrastructure projects, aimed at removing bottlenecks, to create demand, generate jobs, and spur 5-6 per cent growth in the short term.
Kilde: www.worldbank.org
