WB to back Indian firms in emerging economies

WB to back Indian firms in emerging economies
The Financial Express, December 5, 2009, Page 1

fe Bureaus, New Delhi

World Bank Group president Robert Zoellick on Friday said it is willing to help Indian companies operating in developing countries. He projected the South-South trade to rise, while forecasting India would return to 8-9% growth rate in two years. “There may be an opportunity for us to help Indian companies operating in other developing countries,” he said. “We are going to see much of the South-South business and trade.”

Zoellick said he was committed to get additional resources for India. “I had the opportunity this morning to speak to the Prime Minister how fully committed I am in trying to get India more financial resources from the World Bank Group,” he said, concluding his four-day trip to India.

The World Bank is currently working on projects of more than $22 billion in the country, including a $3.6-billion loan from its arm International Finance Corporation, which funds private projects.