The World Bank has announced a US$2.5 billion loan for Karnataka according to BBC. The loan is for infrastructure and development projects. Earlier in the week, the Bank had approved two credits for India, worth US$176 million.
Praising Karnataka’s economic and administrative reform programme, and (inevitably) its achievements in IT, World Bank President James Wolfensohn was quoted as saying, "If it cannot be done in this state it will be problematic elsewhere."
Mr Wolfensohn has also begun a tour of Andhra Pradesh, where some parties are planning to hold protests accusing the Indian government of implementing policies that harm the poor while appeasing the World Bank.
In a rather chilling move that makes a mockery of democracy, the Andhra government reportedly said it would not allow any protests and has put about 200 leftist supporters under preventive arrest.
- nriol.com report
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