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    Bullet Pts. World Bank and India

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    Pritika Jethi
    The World Bank has a long history with India, as India was among the original participants in 1944 that conceived of the World Bank. India remains the largest single borrower from the World Bank, receiving around half of its loans interest-free or at very low interest rates. The World Bank has focused on providing financing to India for critical infrastructure and human development projects, and relies heavily on local Indian expertise, with around 95% of its New Delhi staff being Indian nationals. Key areas that the World Bank has assisted India with include HIV/AIDS prevention and treatment, expanding access to electricity, reducing corruption through e-governance programs, and helping achieve universal primary education through programs like Sarva Shiksha Abhiyan.

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    Bullet Pts. World Bank and India

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    Pritika Jethi
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    The World Bank has a long history with India, as India was among the original participants in 1944 that conceived of the World Bank. India remains the largest single borrower from the World Bank, receiving around half of its loans interest-free or at very low interest rates. The World Bank has focused on providing financing to India for critical infrastructure and human development projects, and relies heavily on local Indian expertise, with around 95% of its New Delhi staff being Indian nationals. Key areas that the World Bank has assisted India with include HIV/AIDS prevention and treatment, expanding access to electricity, reducing corruption through e-governance programs, and helping achieve universal primary education through programs like Sarva Shiksha Abhiyan.

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    The World Bank has a long history with India, as India was among the original participants in 1944 that conceived of the World Bank. India remains the largest single borrower from the World Bank, receiving around half of its loans interest-free or at very low interest rates. The World Bank has focused on providing financing to India for critical infrastructure and human development projects, and relies heavily on local Indian expertise, with around 95% of its New Delhi staff being Indian nationals. Key areas that the World Bank has assisted India with include HIV/AIDS prevention and treatment, expanding access to electricity, reducing corruption through e-governance programs, and helping achieve universal primary education through programs like Sarva Shiksha Abhiyan.

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    47 views2 pages

    Bullet Pts. World Bank and India

    Uploaded by

    Pritika Jethi
    The World Bank has a long history with India, as India was among the original participants in 1944 that conceived of the World Bank. India remains the largest single borrower from the World Bank, receiving around half of its loans interest-free or at very low interest rates. The World Bank has focused on providing financing to India for critical infrastructure and human development projects, and relies heavily on local Indian expertise, with around 95% of its New Delhi staff being Indian nationals. Key areas that the World Bank has assisted India with include HIV/AIDS prevention and treatment, expanding access to electricity, reducing corruption through e-governance programs, and helping achieve universal primary education through programs like Sarva Shiksha Abhiyan.

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    BULLET POINTS FOR SLIDES ARE MARKED IN RED

    1.   India is one of our ‘founding fathers’.


     
    India was among the 17 original participants of the 1944 Bretton Woods conference which
    conceived the idea of the International Bank for Reconstruction and Development (IBRD)—more
    commonly known today as the “World Bank”. In fact, it was the India delegation which first suggested the
    name IBRD. The Bank’s New Delhi office, established in 1957, is the oldest continuously functioning
    World Bank country office.
     
    2.   Our loans are a cheap source of financing.
     
    India receives roughly half of its World Bank loans interest free.  These are provided by the Bank’s
    International Development Association.  This agency provides grants and “credits”, which are loans at
    zero interest, with a 0.75 percent finance charge.  The remaining half of World Bank loans to India are
    provided by the International Bank for Reconstruction and Development, another World Bank agency
    which provides loans at low interest rates.  Countries that borrow from the IBRD have more time to repay
    than if they borrowed from a commercial bank—15 to 20 years with a three-to-five-year grace period
    before the repayment of principal begins.
     
    3.   India is the largest recipient of our financial assistance.
     
    India remains the Bank’s largest single borrower. Our lending to the country touched $2.9 billion in FY
    2005 – more than double the amount lent a year earlier. The bulk of new lending has gone to much-
    needed infrastructure and human development projects, reflecting the rapid growth of India's economy.
     
    4.   We rely on local expertise.
     
    The World Bank office in New Delhi has around 140 professional staff members, of which around
    95 percent are Indian nationals who specialize in areas such as education, health, financial
    management, resource management, information technology and communications.  The Bank also
    works closely with the Indian government, civil society and communities in designing its support for the
    country. Most importantly, the World Bank’s overall assistance to the country is specifically designed to
    support the goals outlined in the Government’s Five Year Plan.

    5. We looked to India first for new development ideas.


     
    New Delhi was the site of the first Development Marketplace to be held in South Asia.  The event,
    launched in December, 2003, allowed non-government players in the development arena find funding for
    their creative programs. More than 1,500 proposals were received, out of which the 20 most innovative
    will share a grant of US$20,000.
     
     
    6. We have joined hands with India in the fight against HIV/AIDS.
     
    We are the largest financers of India’s National Aids Control Program (NACP) with a commitment of
    around US$275 million in interest-free credits.  Our assistance has helped the government develop its
    ability to manage HIV/AIDS programs at the central and state level and has enabled important gains in
    improving blood safety, expanding surveillance to understand the scope of the problem, and scaling up
    activities aimed at prevention and treatment.  With support from the World Bank and other donors, the
    government set up state AIDS bodies in 25 states and seven Union territories. 
     
    7.   We are bringing our assistance to the state level.
     
    Although our financing is still channeled through the national government, we are spreading Bank
    support more widely across India’s poorest states. A key focus of our work has been supporting fiscal
    reforms, reducing corruption, and increasing accountability of state governments. At the national level we
    are financing programs critical to achieving the Millennium Development Goals under common
    arrangements with other development partners.
     
    8.   We are helping to energize India.
     
    For 50 years, World Bank assistance to India’s energy sector has covered oil and gas, coal, power
    projects and alternative sources of energy. We have been a key partner in the government’s efforts to
    develop its national power grid, and we have provided technical assistance aimed at increasing the
    access of poor people to electricity and clean, affordable fuel.
     
    For more information, see Access of the Poor to Clean Household Fuels in India or Why Are Power
    Sector Reforms Important for the  Poor?.
     
    9.   We’re excited about e-governance in India.
     
    The Government of India is planning to use internet technology to reduce corruption and increase
    public accountability—and we are pleased to lend our support. In February, 2004, the World Bank New
    Delhi Office, in association with ASSOCHAM, organized a two-day national summit to elicit wider input
    and help the government develop its program. The World Bank also organized a field visit to Karnataka
    for policy makers, civil society groups and donor agencies from around the world to learn about the
    success of the government’s Bhoomi project which computerized 20 million records of land ownership,
    benefiting nearly seven million rural farmers by allowing them to transfer land titles online.  The project
    has reduced corruption and saved time and costs.

     
    10. We share India’s vision of 'Education for All'.
     
    We are helping the country bring all children into elementary school, especially girls, children from
    disadvantaged groups such as scheduled castes and tribes, and children with disabilities. Our support for
    the Government of India’s nation-wide Education for All program - Sarva Shiksha Abhiyan (SSA) – is not
    only helping the country to universalize education for 6 to 14 year-olds by 2010, but also working to
    improve its quality. 

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