India Granted World Bank Loan
WASHINGTON, Fri. (11.30 a.m.).— The World Bank announced that an initial loan to India for economic development would be made in the near future. The bank said the loan would be confined to funds for the financing of foreign exchange costs of three specific projects:— (1) Locomotives and spares and tank wagons for Indian railways. (2) Construction of a thermal power plant at Bokaro, in Bihar. (3) Reclamation of weed-infested iand.
Bank officials refused to make public the figure for the loan .claiming that, it had not finally been determined. Besides the three projects covered by the initial loan, other plans of the Indian Government for hydro-electric power development and land irrigation are being considered by the bank as a basis for loans.
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Northern Advocate, 6 August 1949, Page 5
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128India Granted World Bank Loan Northern Advocate, 6 August 1949, Page 5
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