World Bank Proposes To Double Funding To India

Dubai, Sept 24: | Updated: Sep 25 2003, 05:30am hrs
The World Bank proposes to double its funding to India from $1.9 billion per annum 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 PTI on Wednesday.

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Besides the social sector, funding was being considered in the areas of infrastructure and rural development, he said. The official said the institution was highly satisfied with poverty reduction programmes and other social sector reforms in India.

Indias achievement in the social and economic sectors have come into sharp focus at the ongoing annual meetings of the World Bank and IMF here.