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Tuesday, October 13, 2009

World Bank approves $4.2 billion loan for India

The World Bank approved more loans equalling to $4.2 billion to India for three projects.

The loan amount will be divided in following manner - $2 billion for state-run banks, with IIFC receiving $1.195 billion to fund infrastructure projects, and PowerGrid Corp getting $1 billion to upgrade India's power transmission system. so we'll get less power cuts this time