The World Bank approved four loans worth $4.345 billion dollars yesterday, which is the second largest volume of lending to a single country in a year.
The goal of the four projects is to contribute to improving India's 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.
The financial package consists of:
-Banking Sector Support: $2 billion
-Support for India Infrastructure Finance Company Limited: $1.195 billion
-The Fifth Power Sector Support Project: $1 billion
-The Andhra Pradesh Rural Water Supply and Sanitation Project: $150 million
For more information and to watch an interview with India's Country Director Roberto Zagha, please check out the feature story.