Source: The Financial Express

HYDERABAD: In Andhra politics, history seems to be repeating itself. But, this time round, the leading lights have switched roles. Last week, World Bank managing director Graeme Wheeler announced a direct loan of $1 billion (Rs 4,500 crore approximately) to AP. Besides this, the state will also receive its due share from the Bank's overall funding to the country, Wheeler added, saying that "there are no fresh conditions for the loan."

Interestingly, a senior Bank economist had said some time back that "we have learned our lessons, that too the hard way", when asked about the World Bank's position on "policy prescriptions" to states that borrow from it. When this was pointed out to Wheeler, he said the fundamental policy of the Bank was very clear, they do not put any policy prescriptions.

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Posted by pichu at October 30, 2006 12:00 AM