25 April 2018

India Signs Loan Agreement With World Bank for US$ 125 million

India Signs Loan Agreement With World Bank for US$ 125 million


A Loan Agreement for IBRD credit of US$ 125 (equivalent) for the “Innovate in India for Inclusiveness Project” was signed with the World Bank in New Delhi. 

The Objectives of the project is to nurture indigenous innovation, foster local product development and accelerate commercialization process by bridging critical skill and infrastructure gaps to promote affordable and innovative healthcare products generation for inclusive development and increasing competitiveness in India. The closing date of Innovate in India for Inclusiveness project is 30 June, 2023.

Source- Press Information Bureau (PIB)

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • President of the World Bank- Jim Yong Kim.
  • Headquarters of World Bank: Washington, DC.
  • IBRD stands for International Bank for Reconstruction and Development.

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