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lquadland10 (< 20)

Stimulus goes on. New Players.

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September 23, 2009 – Comments (1) | RELATED TICKERS: SLV , AUY , BX

World Bank Provides US$4.3 Billion to Support India’s Economic Stimulus, Infrastructure Investments

World Bank Provides US$4.3 Billion to Support India’s Economic Stimulus, Infrastructure Investments

http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22323596~pagePK:64257043~piPK:437376~theSitePK:4607,00.html


Press Release No:2010/073/SAR

Contacts:

In Delhi

Sudip Mozumder

(91 11) 2461-7241

smozumder@worldbank.org 

In Washington: Erik Nora (202) 458 4735

enora@worldbank.org

 

WASHINGTON, September 22, 2009  ─ The World Bank today approved four projects worth US$4.3 billion to India, designed to support the Government’s infrastructure agenda and bolster its economic stimulus program. 

 

After a period of high economic growth — which reached 9.7 percent in 2006-07 — the onset of the global financial crisis in 2008 saw India’s growth rate fall to about 5-6 percent in the fourth quarter of 2008-09.  Although there is uncertainty about the pace of the economic recovery, current trends suggest that a growth rate of between 5.5 and 6.5 percent for 2009-10 is realistic.

 

“This is a crucial time to support India,” said Roberto Zagha, World Bank Country Director for India. “While the worst of the crisis seems to be behind us, doubts linger about the strength of the comeback, partly because the strength of the global recovery is uncertain.  Today’s support will help maintain credit growth and continued infrastructure investments. Supporting infrastructure is particularly important during the current crisis, not just to sustain the domestic economy at a time of reduced global demand, but even more to lay the foundations for stronger future growth.”
 

The US$2 billion Banking Sector Support Loan will provide budgetary support to the Government of India, helping it maintain its broad economic stimulus program by enhancing the capital of select public sector banks.

My question is who is lending to who? 

 

1 Comments – Post Your Own

#1) On September 23, 2009 at 7:40 PM, lquadland10 (< 20) wrote:

Brazil: US$24.3 Million for Green Growth

Facilitating policies for a sustainable economic recovery

WASHINGTON, September 23, 2009 – While Brazil already is showing clear signs of economic recovery after suffering the impact of the global financial crisis, the World Bank approved yesterday a US$24.3 million loan for Phase II of the Second National Environmental Project (NEP) to support  efforts to enhance the environment and sustain economic growth. 

 

"Environmental concerns have become central to public policies in Brazil, and this project is a reflection of this," said Carlos Minc, Brazil´s minister of environment. "The NEP II initiative has proven that it is possible to achieve important improvements to environmental management at all government levels, integrated with the social and economic sectors. In this new stage, the program will have a total budget of US$34.7 million, of which about US$17 million will help improve environmental licenses in the federal agencies (IBAMA, ANA and ICMBio) and state agencies, as part of the country's sustainable development goals."

 

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