ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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IDA Credit

THE new IDA credit of $150 million marks the first instalment of the longawaited (and much delayed) aid of $900 million expected from the World Bank and the Consortium countries.

THE new IDA credit of $150 million marks the first instalment of the longawaited (and much delayed) aid of $900 million expected from the World Bank and the Consortium countries. The amount is much larger than the earlier credit ($90 million) sanctioned by the IDA and the range of industries covered is also much wider, the earlier $90 million being restricted to three groups of engineering industries.

This is the third credit sanctioned by IDA to India for components and maintenance imports, and reflects the changing nature of foreign currency requirements as a country develops. There is nothing like selfsufficiency in an industrial process; there is only a transformation of import requirements, e g, from finished goods to intermediate goods in the first stages.

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