June 23, 2010 9:06 PM

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World Bank's lending to India to touch $9.3 billion

The World Bank's lending to India will touch 9.3 billion US dollars for the fiscal ending this month. This includes 2.6 billion dollars in interest-free credit and 6.7 billion dollars in the form of a long-term, low interest loan. <br/><br/>World Bank Country Director Roberto Zagha said in New Delhi that another significant aspect of the lending was helping the country remove infrastructure constraints to high growth.<br/><br/> The bank's decision to give 2 billion dollar package to facilitate credit expansion of some public sector banks addresses the concern of those in industrial sector who feared there may be a liquidity crunch in the face of global economic crises. <br/><br/>Apart fro this the loans for sustainable transport solutions in select Indian cities, promotion of energy efficiency in micro, small and medium enterprises and protection of coastal areas and people living there will be a big leap forward towards achieving inclusive growth. But the challenge is effective implementation of all the projects to get the desired results. For this government can only deliver provided society is vigilant.

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