Processing .....please wait.. 
The article has been forwarded.... 
India, Pak big borrowers of World Bank
By agencies
|
Tuesday, 08 August 2006, 19:30 IST
WASHINGTON: World BankÂ’s lending commitments to South Asia reached $3.8 billion in the fiscal year of 2006, ending June 30, with India and Pakistan figuring among the top 10 largest borrowers.
The World BankÂ’s press release stated that India received a total of six percent of loans, grants and credits granted, amounting to $1,416 million. These were received through the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
Pakistan stood at 6.3 percent with grants worth $1,498 million. On the whole, South Asia received 16 percent of the total $23.6 billion committed by the World Bank. The grants went up by six percent over the previous year by $1.3 billion.
Latin America and the Caribbean reigned with 26 percent of lending commitment ($5.9 billion), followed by Africa at 20 percent with $4.8 billion grants. Europe and Central Asia received 17 percent recording grants worth $4 billion.
South Asia ranked next with 16 percent ($3.8 billion) followed by East Asia and Pacific at 14 percent ($3.4 billion) and Middle East and North Africa with seven percent ($1.7 billion).