World Bank
World Bank official says it will increase its financing to India
World Bank Country Director for India Auguste Tano Kouame has said the institute will increase its financing to India.
Kouame told ANI: "So yes, we are prepared to increase our financing to India as a World Bank Group, including the International Bank for Reconstruction and Development, the International Finance Corporation, and the Multilateral Investment Guarantee Agency,International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA)."
Speaking to the agency, he further said that under the leadership of new director of World Bank Ajay Banga various reforms have enhanced the institution's capacity to provide higher volumes of financing to middle-income countries like India and have reduced borrowing costs.
He said the World Bank's support goes beyond financial assistance and includes global expertise, cutting-edge technology, and knowledge-sharing that can help India implement innovative solutions.
"So if India wanted to borrow more from us, the cost of borrowing will be even more interesting than before. So we are ready for greater level of financing, for more affordable financing, but we're also ready to focus on knowledge work if that's what is of high interest for the government of India," he told the news agency.
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