The government plans to prepay Rs 5,188 crore (Rs 51.88 billion) worth of high cost debts of Asian Development Bank in the current fiscal, after having prepaid Rs 6,378 crore (Rs 63.78 billion) to the World Bank a few days back.
"This year, principal amount of Rs 6378.29 crore has been pre-paid to IBRD (a World Bank arm). Further, principal amount of Rs 5187.74 crore is proposed to be pre-paid to ADB during the current financial year," Minister of State for Finance Anandrao V Adsul informed the Lok Sabha on Friday.
Elaborating on the loan taken by the government from foreign financial institutions for various projects, Adsul said loan taken from ADB in the last three years was -- Rs 2,519.14 crore (Rs 25.19 billion) in 2002-03, Rs 1,913.63 crore (Rs 19.14 billion) in 2001-02 and Rs 2,145.11 crore (Rs 21.45 billion) in 2000-01.
Similarly, loans taken from International Development Association, another World Bank arm, stood at Rs 4,277.92 crore (Rs 42.78 billion) during 2002-03, Rs 5,736.95 crore (Rs 57.37 billion) in 2001-02 and Rs 4,848.07 crore (Rs 48.48 billion) in 2000-01.
In the case of IBRD, the government had availed a loan of Rs 3,202.78 crore (Rs 32.03 billion) during 2002-03, Rs 3,765.99 crore (Rs 37.66 billion) during 2001-02 and Rs 3,234.55 crore (Rs 32.34 billion) in 2000-01.
He said the amount of debt pre-paid to ADB and IBRD during 2002-03 was Rs 6,336.79 crore (Rs 63.37 billion) and Rs 7,793.17 crore (Rs 77.93 billion), respectively.
