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WB gives India, BD $1 billion each, Pakistan $440m

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    WB gives India, BD $1 billion each, Pakistan $440m

    WB gives India, BD $1 billion each, Pakistan $440m

    WASHINGTON, July 28: India and Bangladesh received more than $1 billion each while Pakistan got $440 million from the
    World Bank in financial year 1999, which ended on June 30, the bank announced on Wednesday.
    Bank's lending commitments to the South Asian countries reached $2.6 billion for 18 projects. These commitments included $1.8
    billion in interest-free credits from IDA, and $750 million in market-based loans from the IBRD.
    Disbursements reached $2.7 billion, showing a significant increase over the previous year. India and Bangladesh were among the
    bank's top ten borrowers in fiscal 1999. India was the largest borrower with commitments totalling $1.5 billion ($654 million in IDA credits and $400 million in IBRD loans) for seven projects.
    Lending to Bangladesh reached record levels, with the approval of six projects totalling more than $1 billion (all IDA credits).
    Pakistan received $440 million ($90 million in IDA credits and $350 million in IBRD loans) for two projects; Sri Lanka, $29 million for one IDA-financed project; and Nepal, $17.5 million in IDA credits for two projects.
    In close coordination with the IMF and other donor agencies, the bank moved swiftly to help maintain macroeconomic stability and
    to help meet balance of payment needs in the region through two multi-sector programmes. These included a $200 million credit to
    Bangladesh, which helped the country recover from last year's devastating floods, and a $350 million loan to Pakistan, which
    supports structural reforms in banking, tax administration, public utilities, and public expenditure.
    Pakistan Poverty Alleviation Fund (PPAF), a $90 million IDA credit supported the work of local partners such as NGOs and
    community-based organizations (CBOs), to provide micro-credits to individuals, and grants and technical assistance to communities for small infrastructure projects, such as water supply schemes and roads.



    dil..dilseee

    #2
    Does WB check where the money goes? Does it go to Swiss banks in the end? WB should do an audit and check that money does not go down the drain.

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      #3
      ZZ bingo

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