India gets help for power development

Jul 14, 1997 02:00 AM

June 22, 1997 India wants to tie up assistance pledges to the extent of $ 1.5 billion from multilateral agencies for its two major power projects and a couple of road sector projects at the forthcoming India Development Forum (IDF) meeting to be held in Paris next month.
According to an source, representatives of all donor countries including the United States, Britain, Germany, Japan, the Netherlands, France and Sweden are slated to attend the meeting which is being held under the aegis of the World Bank. Representatives of IMF, the European Commission and the ADB are also likely to participate in the meeting.
The IDF meeting for 1997-98, scheduled to be held on June 24 and 25, is likely to commit about $ 6.5 to 7 billion dollars' external assistance, maintaining the same level of the previous year. These pledges include grants, concessional credits and loans apart from technical assistance granted by several countries, the same source said.
As the balance of payments position in the country is satisfactory, the main purpose of external assistance now was to obtain quality funds for investment in priority sectors such as the social sector and infrastructure.

Source: not available
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