News

World Bank postpones two more loans
The World Bank has postponed two more loans to India, bringing to more than $ 1 billion the amount held up because of the nuclear tests. Tuesday's step by the bank's executive directors postponed 206.4 million dollars in loans. Last week, the bank delayed four loans totalling 865 million dollars after the United States, Japan and Canada urged no action on the money. The loans of $ 130 million for an agriculture project and $ 76.4 million for a healthcare project were scheduled to be discussed by the bank's executive board. But in response to requests from several executive directors, consideration of the loans has been postponed to a date to be determined, a bank official said. Officials familiar with bank operations said once loans got postponed, it could take several months and perhaps longer for them to be reconsidered. India was scheduled to get $ 3 billion in loans from the World Bank this fiscal year that ends June 30.