India largest recipient of WB loans

India was the World Bank's favourite last fiscal when it came to extending financial aid.

India was the World Bank’s favourite last fiscal when it came to extending financial aid in the form of loans,both among developing countries and the world’s poorest nations.

The World Bank,through its lending arms IBRD and IDA,committed USD 9.3 billion in financial assistance to India in the 2009-10 fiscal,more than the aid committed by the US and the European Union.

The International Bank for Reconstruction and Development (IBRD) committed USD 6.7 billion,or 15.1 per cent of its total lending in the fiscal,to India,according to government officials. In comparison,the second highest recipient,Mexico,got USD 6.4 billion.

Next in line were South Africa (USD 3.8 billion),Brazil (USD 3.7 billion) and Turkey (USD 3.0 billion). IBRD serves middle-income countries with investment and advisory services.

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