IMF, World Bank Ready to Offer USD39 Billion to India

India may access up to USD39 billion in loans from the International Monetary Fund and World Bank amid global credit woes, India’s Planning Commission Deputy Chairman Montek Singh Ahluwalia said. The IMF is ready to provide some USD30 billion to introduce short-term liquidity in the Asian nation while the World Bank is willing to offer USD9 billion over a three-year period to support the country’s development infrastructure projects. (“India can borrow USD39 billion from IMF, World Bank” - Hindustan Times, Nov. 15, 2008)

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