World Bank to invest $1 Billion in India
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World Bank to invest $1 Billion in India

By SiliconIndia   |   Wednesday, 27 May 2009, 11:33 Hrs   |    2 Comments
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World Bank to invest $1 Billion in India
New Delhi: The World Bank's lending arm, International Finance Corporation (IFC) has allocated $1 billion (5000 crore approx.) for India for the coming fiscal ending June 2010. "I think we would remain at the one billion dollar figure more or less for the next one or two years," Vipul Bhagat, South Asia Manager-Infrastructure Advisory, IFC said.

It is the infrastructure projects, which will benefit the most as about 50 percent of the total IFC investment in the country will be in this sector. "Infrastructure is a focus area for IFC especially because the Indian government has told IFC to do more in that sector," he added on the sidelines of a book release function organized by the CII and IFC.

The lending body also plans to invest in agriculture and rural development among others. IFC maintains that the economic slowdown has not impacted its investment plans and it faces no liquidity problem.

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Reader's comments(2)
1: Hope this money is made use for the infrastructure in our country, which is dying. This will be a relief for many citizens in India.
Posted by:Raj - 27 May, 2009
World bank is a scammer
Chandramouli Replied to: Raj - 28 May, 2009