World Bank proposes to double funding to India

By SiliconIndia   |   Thursday, 25 September 2003, 07:00 Hrs
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DUBAI: The World Bank proposes to double its funding to India from the present annual level of $1.9 billion in the next four years to hasten infrastructure, rural and social development.

"The level of assistance could double in the next four years or so if India sustains its social reforms and continues to work aggressively towards poverty reduction programmes", a top Bank official told a press agency on Wednesday.

Besides the social sector, funding is being considered in the areas of infrastructure and rural development, he said.

India's achievement in the social and economic sectors have come into sharp focus at the ongoing annual meetings of the World Bank and IMF being held here.

The likely increase in aid to India comes at a time when World Bank president James Wolfenson has expressed deep concern at the big fall in aid from the developed to the developing world.

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