World Bank Bolsters India Banking, Statistical Systems

The World Bank has approved two loans for India, one of which will boost the lending capacity of the Small Industries Development Bank of India's on-lending local microfinance institutions. Photo by: Mike Bitton / CC BY-NC-SA 2.0 Mike BittonCC BY-NC-SA 2.0

The World Bank has approved two loans to help strengthen the banking and statistical systems of India. The first loan, worth USD300 million, will support a microfinance project, which seeks to boost the lending capacity of the Small Industries Development Bank of India’s on-lending service to local microfinance institutions. The second loan, worth USD107 million, will be used for the implementation of a policy and institutional reform aimed at strengthening India’s statistical system.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.