London, Apr 4: India will now draw additional monetary aid of $5.2 billion from the World bank.
Recapitalisation of state-owned banks and infrastructure finance companies along with power grid corporations are the components that will benefit from this. This is inorder to improve the country's financial sector and the infrastructure projects.
India till now has drawn $3 billion annually from the world bank out of which half was in concessional form. It was at this G20 summit that the developing nations were promised better voting rights in institutions like the International Monetary Fund (IMF) and the World Bank.