World Bank to lend up to US$ 5 billion a year to India

The World Bank plans to continue its level of annual assistance of between US$ 3 to $5 billion a year to India over the next four years with the aim of boosting development in low-income states.

The funds will go towards the development of resource-efficient infrastructure and environmentally friendly urban spaces.

World Bank group president Jim Yong Kim said increasing the focus on India’s poorest regions, such as the state of Uttar Pradesh, would help boost the prosperity for all the country’s people.

“India’s poorest seven states are home to over 200 million people who have yet to secure access to education, healthcare and other basic services they deserve. Increasing our focus on these areas will help India build shared prosperity for all of its people,” Mr Kim said.

India represents the World Bank Group’s largest client – it lent the country US$ 26 billion between 2009 and 2013.