STAFF WRITER 15:49 HRS IST
Washington, Sep 23 (PTI) The World Bank will provide USD 4.3-billion loan for 4 Indian projects, including USD 2 billion for recapitalisation of state-owned banks.
The assistance would "bolster infrastructure investments, enable public sector banks to expand credit and strengthen power transmission networks to meet the growing demand," said a World Bank release.
The four loans, approved by the World Bank's executive board yesterday, include USD 2 billion loan to enhance banks' capital, USD 1.2 billion loan to infrastructure financing company IIFCL, USD 1 billion to help address power deficiency, and USD 150 million to improve water supply in Andhra Pradesh.
Officials of the multilateral lending agency said the development policy loans have no conditions attached and would be disbursed in a single tranche after January 1, 2010, unless the Indian government prefers in installments.
Washington, Sep 23 (PTI) The World Bank will provide USD 4.3-billion loan for 4 Indian projects, including USD 2 billion for recapitalisation of state-owned banks.
The assistance would "bolster infrastructure investments, enable public sector banks to expand credit and strengthen power transmission networks to meet the growing demand," said a World Bank release.
The four loans, approved by the World Bank's executive board yesterday, include USD 2 billion loan to enhance banks' capital, USD 1.2 billion loan to infrastructure financing company IIFCL, USD 1 billion to help address power deficiency, and USD 150 million to improve water supply in Andhra Pradesh.
Officials of the multilateral lending agency said the development policy loans have no conditions attached and would be disbursed in a single tranche after January 1, 2010, unless the Indian government prefers in installments.
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