NEW DELHI, JUNE 14: Almost half of the aid India received last year from World Bank and Asian Development Bank (ADB) has gone back to the multilateral agencies in the form of interest payments on earlier loans, the Union government's finance accounts for 1996-97 reveal.While new debts generated from World Bank and ADB in 1996-97 totalled $ 1.592 billion, outflow due to interest payments made to the two agencies itself amounted to $ 726.04 million.International Bank for Reconstruction and Development and International Development Assistance - world bank's soft loan window - together accounted for $ 609.31 million outflow on interest payments, the accounts disclosed.Interest payments to ADB on outstanding debts totalled $ 116.74 million in 1996-97, almost double the principal amount repaid to the agency during the year. The repayments to ADB in 1996-97 amounted to $ 59.65 million.
