The World Bank in a recent statement committed $3-5 billion per annum funding for the next four years to push investment in the social infrastructure sector and developmental projects launched by the Indian government to eradicate poverty. Especially working through the International Finance Corporation, the $3-5 billion can leverage many more billions for investment in India, President, Jim Yong Kim, who is currently on a visit to India, said, reiterating that the IFC, which is an arm of the World Bank Group and another arm, the International Development Agency (IDA), is for lending on concessional terms. Dwelling in details on reason the World Bank interest in India is that it would have a huge impact on the world if it makes a difference and the Indian economy could expand at a higher rate as the WB has seen signs of the economy having bottomed out the recession. For higher GDP growth the Indian government should be closer to the private sector and there should be more private-public partnerships in India.
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