From July 1,the World Bank will throw open its files under the Right to Information Act. This has been approved, said a bank official,adding it potentially opens up the record of the Banks involvement with successive Indian governments before and especially during the first few critical years after liberalisation. However,correspondence of the Bank with the government will not come under the purview of the RTI,as part of the small set of negative list,he said. Meanwhile,the World Bank on Wednesday said it was discussing with India for another $ 1 billion loan to help shore up capital of Indias public sector banks. Discussions are going on with the World Bank and the government of India to provide,World Bank country director for India Roberto Zagha said on Wednesday. India has become the largest recipient of the World Bank loans with over $ 9 billion worth assistance this fiscal ending June 2010,up fourfold over the previous fiscal that includes about $ 2 billion for the recap. The Washington-based multilateral lender had extended only $ 2.2 billion loan to the country for the year ended June 2009. Indias share among the various recipients of the Bank is 15% in terms of loans,followed by Mexico with 11% and South Africa with 7%as of June 20,2010. As of June 20,the Bank has lent $ 9.26 billion to India and is expected to provide another $ 0.04 billion in the remaining period of June. The Bank follows a fiscal year from July to June. The Banks total lending to India will touch $ 9.3 billion by the end of June and a similar amount is expected in the next financial year beginning July 2010. We are working on a number of projects,which if you add them up,would roughly amount to the same amount of lending (in the next fiscal), World Bank country director for India Roberto Zagha said after announcing the 2009-10 numbers in the Capital on Wednesday. The support would be for transformative projects,including the Kosi flood recovery project and cleaning up the Ganges. Besides,the Bank also expects huge funding opportunity in the infrastructure sector,including the proposed dedicated freight corridor project. During this fiscal,the Bank has given aid of about $ 3 billion to the infrastructure sector,he added. The total expected lending this year includes $ 2.6 billion as interest-free credits from the International Development Association and $ 6.7 billion in the form of long-term,low interest loans from the International Bank of Reconstruction and Development,he further said.
