World Bank loans to India seen at $7 billion this year
NEW DELHI - The World Bank has committed to increase its lending to India to about $7 billion this year from an average $2.3 billion in the previous four years, the finance ministry said in a statement.
India has also sought early completion of the process of voice and quota reforms at the World Bank to increase the representation of emerging and developing countries, the ministry said.
World Bank President Robert Zoellick met Finance Minister Pranab Mukherjee in the Indian capital on Wednesday.
In September, the World Bank approved $4.3 billion in loans for India to help finance infrastructure building and to shore up the capital of some state-run banks as the economy recovers from the global financial crisis.
The loans are part of the bank's $14 billion lending for Asia's third-largest economy over three years through 2012.
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