The World Bank has agreed to lend an additional $3 billion to India over the next three years, including the assistance provided to the infrastructure projects, the Lok Sabha was informed on Wednesday.
"The World Bank has included additional lending of $3 billion in the Country Assistance Strategy 2009-12," minister of state for finance P K Bansal said in a written statement to a query in the Lok Sabha.
The government had sought additional loan from the World Bank which will be over and above the net disbursement to India, Bansal said. This additional lending will include assistance to the infrastructure projects.
He said the government has recently taken steps to liberalise the inflows through external commercial borrowings, foreign institutional investors and foreign direct investment to increase the availability of overseas funds for the infrastructure sector.
It has also put in place various policy measures, including cut in duty rates of customs and central excise, liberalisation of foreign trade regime, re-finance facility to National Housing Bank and Small Industries Development Bank of India, the minister said.