World Bank is as much an Indian bank as it is a US bank

India’s association with the Bank goes back to the pre-Independence era when it became a founding member in 1945. Four years later, in 1949, India was the first Asian country to receive a loan from the Bank, $34 million, which it deployed for a railway project. In the past, the Bank extended loans for several iconic projects, including $5.6 million to Air India in 1957 for purchasing three aircraft, auxiliaries and a flight simulator, among others.

from International-News-Economic Times https://ift.tt/NVJ2Keq

SHARE