World Bank to increase loan portfolio for India: Zoellick

BHUBANESWAR: World
Bank president Robert B
Zoellick said he would hold
discussion with Finance
Minister Pranab Mukherjee
to increase the loan portfolio
for India.
Zolleick, who was here to
gain a fi rst hand information
about the state’s economic
and social challenges to
fi nd out how best the bank
could support the state government,
said the proposal
of the BRICS countries to
form a Regional Development
Bank showed a sign
of broader development and
large countries need more
fi nancial support.
It was a challenge for the
World Bank to provide loan
to the larger countries.
If the proposal of the
BRICS countries materialised,
it would complement
their work, he said, adding
the World Bank which has
a lot of experience could
provide technical and other
support to the proposed
bank. The World Bank was
now working with Regional
Development Bank in Asia,
Africa and Latin America
and the formation of the
bank would complement the
work.
‘But setting up such a bank
was a very complicated venture
as we have to organise
capital and international ratings’,
he said. Zolleick said
India has now a loan limitation
of 17.5 billion dollars,
he said.