WORLD BANK DEFERS $865-M LOANS TO INDIA
Article Abstract:
The World Bank has announced that loans worth $865 million to India will be postponed as a direct result of the country's nuclear tests. The loans were to have come up for voting on May 26, 1998. The loans which have been affected are a $130 million loan for a renewable energy project, a $450 million loan to convert Powergrid into a National Grid operation and transmission services company, a $275 million loan to enhance the highways network in Haryana and a $10 million loan from the International Finance Corporation to Carraro India Ltd. (khr)
Comment:
India: World Bank announces that loans worth $865 mil to India will be postponed as direct result of country's nuclear tests
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RICH NATIONS LEAN TOWARDS INDIA AGAINST SANCTIONS
Article Abstract:
Some developed nations are softening their stand towards India against the sanctions imposed by the US. This is reflected in the assistance of $543.5 million given by the World Bank for the Andhra Pradesh economic restructuring project. The loan was negotiated between May 12 and May 16 after the country tested its nuclear devices. Developed countries, which have a 46 percent voting share in the World bank, seem to be open to bringing sectors like agriculture, education and irrigation under humanitarian aid. (khr)
Comment:
India: World Bank gives $543.5 mil assistance to Andhra Pradesh economic restructuring project
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MRPL DEFERS GDR, PLANS TIE-UP WITH GULF OIL CO
Article Abstract:
Mangalore Refineries and Petrochemicals Ltd has decided to defer its $140 million GDR issue. It is negotiating with West Asian oil producers for a fuel supply linkage in exchange for an equity stake in the company. The GDR issue was to part finance its Rs3690 crore expansion to increase capacity to 9 million tonnes from 3 million tonnes at present. Oil companies in the Gulf like Kuwait Petroleum, Saudi Aramco and Oman Oil Company are already negotiating with domestic oil companies for equity-linked crude oil supply. (khr)
Comment:
Decides to defer $140 mil GDR issue, which will part finance Rs3690 crore expansion to increase capacity to 9 mil tonnes
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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