News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 17 years ago
Home  » Business » World Bank to give $944 mn loan to India

World Bank to give $944 mn loan to India

Source: PTI
Last updated on: November 02, 2007 17:26 IST
Get Rediff News in your Inbox:

The World Bank on Friday agreed to sanction a loan of $944 million to India for strengthening rural finance system, vocational training programmes and community-based water management projects.

According to an agreement signed here, the multi-lateral agency would give 600 million dollars toward boosting rural cooperative credit projects, $280 million for supporting 400 ITIs over four years and 64 million dollars for Karnataka-based water tank management projects.

"The three projects, signed today, reflect government of India's priority in rejuvenating the rural economy," Finance Minister P Chidambaram said on the occasion.

The agreement was inked by Finance Ministry Joint Secretary Madhusudan Prasad and World Bank Country Director Isabel Guerrero. World Bank President Robert B Zoellick, who is on a three-day visit to India, was also present on the occasion. (PTI)

World Bank President Robert B Zoellick (right) shakes hands with Indian Finance Minister P Chidambaram, after the signing of agreements in New Delhi on Friday.

Photograph: Tauseef Mustafa/AFP/Getty Images

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!