World Bank Provides $4.3 billion to India

September 22, 2009: At the request of the Government of India, the World Bank today approved four loans worth $4.345 billion. This is the second largest volume of lending to a single country in a single year.

Of this, the first three loans totaling $4.2 billion, while modest in relation to India's $1 trillion economy, will contribute to India's extraordinarily large needs for infrastructure and help bolster the country's response to the global economic and financial crisis and lay the foundations for stronger growth in the future.

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Nonprofits & Activism

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• india

[alecsmart7000]

I agree. Lets stop blaming others. We must confidence in our own systems and if not, then lets try to change them instead of conveniently blaming others. By the way the India is a prominent share holder of the World Bank with an Indian executiv edirector! So if we blame them we are blaming ourselves as well.

[wideshutuk]

A communist? Ists and isms are all the same in the end. I don't prescribe to the false left/right paradigm. Ultimately they all have the bankers calling the shots.

[alecsmart7000]

you sound like a commie -

[alecsmart7000]

Wideshutuk is a Commie!!! And we all know how the left is doing :) desparate

[wideshutuk]

They are not stupid, far from it, they know exactly what they are doing. They couldn't care less if India burned the money, the point is to get them in debt, not to help them out. The lending in many ways keeps the country poor.

[wideshutuk]

Ok I was a bit off cuff with the comment, but it has happened tonnes of times; the world bank is not the warm fuzzy bank it appears to be. Instead of invading a country by force or negotiating trade deals, corrupt corporation and politicians through the world bank will lend money to poor countries, not to help them but to indebt them. They can then ask for political favors and resources. Confessions of an Economic Hitman is a good book to read on the subject.

[ted2924]

wideshutuk, how do you know the western countries will build the inrastruactures in India?

Isn't the World Bank giving India with money and just let India do whatever it wants with the money? India could use the loan for something else like building more army and weapons, money laundry, etc.

[ted2924]

What is the use if the corrupt Indian politicans will steal some of the $4.3 billion and put in the Swiss bank or somewhere else. India is still going stay poor.

World Bank lender is stupid.

[wideshutuk]

And of course the people who will build the infrastructure will be western corporations, so India will get no money out if it. Then of course it will all go wrong and they'll be in debt, by which time they will be forced to do whatever the westerners want. GOOD JOB WORLD BANK!