India in the past has borrowed $ 51982854096* from World Bank for various projects, do we still need more?
* (source : World Bank)
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The World Bank on Friday inked three loan agreements with India for a total sanction of $944 million for strengthening the rural finance system, vocational training programmes and community-based water management projects.
According to the agreements signed here, the multilateral agency would provide $ 600 million for boosting rural cooperative credit projects, $ 280 million for supporting 400 ITIs over four years and $ 64 million for water tank management projects in Karnataka.
The agreements were inked by Finance Ministry Joint Secretary Madhusudan Prasad and World Bank Country Director Isabel Guerrero in the presence of Finance Minister P. Chidambaram and World Bank President Robert B. Zoellick, who is on a three-day visit to India. “The three projects, signed on Friday, reflect the Central Government’s priority in rejuvenating the rural economy,” Mr. Chidambaram said on the occasion.
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