Washington, July 24: A major overhaul of the World Bank’s lending and borrowing programme for the next four years is being planned by the Bank President, Mr. Robert McNamara, to help meet the pressing needs of the developing countries. His proposals, which in essence aim at enlarging the lending programmes by at least five per cent in real terms, will be discussed by the Board of the Bank on July 30. The proposals also seek to reduce the Bank’s liquid reserves. The lending rate may rise from 7.25 per cent to eight per cent. Under the proposals, the Bank’s lending programme for the next four years will aggregate $22.1 billions (Rs. 16,500 crores) as against $14 billions (Rs. 10,500 crores) planned earlier.
Published - July 26, 2024 03:35 am IST
