WB unveils $5-bn infra investment plans

In order to help India in its on-going drive to match the huge infrastructure deficit, the World Bank has recently decided to lend a whopping $ 5 billion funds to India in the next half decade, Country Head, Junaid Ahmad said in an official statement, that the multilateral global lending body will release about $1 billion every year for the next five years from the current $3 billion to $3.5 billion. The lending will be mainly for infrastructure projects as late last year, India jumped into 100th place on the World Bank's ranking of countries by Ease of Doing Business for the first time. In its report released for 2018 it made a mentioned that India jump about 30 places in global ranking in the ease of doing business. The giant leap was largely driven by the reformist initiatives covering various sectors of the economy ensuring easy access to credit, power supplies and protection to minority investors, he added.