Hotline: 1800 102 2007
X
Search Business Opportunities
2010-06-24

World Bank steps up credit to India

Focus on helping India meet development challenges

The World Bank has sizeably stepped up lending to the country. The Bank’s total exposure for fiscal year ending June 2010 will reach $9.3 billion. This indicates a sharp increase from $2.2 billion lent to the country last year. Traditionally the average corpus of credit to India has been $2.5- 3 billion a year.

The increased largesse to India indicates an interplay of several factors at work. One important influencer has been the guidance issued from G-20 during the November 2008 Summit, wherein it directed international financial institutions to step up financial support to emerging economies.

Secondly the government has requested World Bank’s assistance in some crucial projects, specially in the infrastructure domain. These include, the Dedicated Freight Corridor, (DFC), cleaning of Ganga, Rehabilitation programmes for flood victims in Bihar. Other key areas warranting World Bank contribution are SHG-based livelihood programmes focused towards poverty eradication, the rural roads project, social security for unorganized sector.

According to a World Bank representative, The bank’s increased assistance in these initiatives is spawned by its global commitment to lend a total of $120 billion since July 2008. Added to that, India being the second fastest growing economy, the country needs funds urgently to meet its target of 8-10% growth, so as to move 400 million people out of poverty. World Bank clearly wants to play a commensurate role in India’s growth story.

World Bank resources to India are always allocated according to the development objectives set forth by the government in the five year plans. This year, after receiving a special request from the government, the Bank earmarked $3 billion to support India’s domestic response to the financial crisis. This included a $2 billion package for the government to enhance the capital of some of the public sector banks so they could maintain their credit expansion so as to prevent a shortfall of capital from affecting the economy.

Related opportunities
  • Quick Service Restaurants
    About Us: Doner & Gyros is a casual fast food restaurant..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Elixir Fitness Gym is run by Celebrity Fitness Expert..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About Us: Owned and operated by Bloombay Enterprises LLP, The Belgian Waffle Co. was..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About: Go Italia is a casual dining Italian cuisine restaurant with..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts