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World Bank mulling local currency lending in countries like India: Official

World Bank mulling local currency lending in countries like India: Official

Mumbai: A senior World Bank official said on Friday that the institution is considering providing local currency loans in countries like India.

"How do we do local currency lending for a country like India is also something we are trying to think about at a price which is advantageous to this country," Anshula Kant, Managing Director and Chief Financial Officer of the World Bank, said.

Kant, speaking at a global economy event hosted by the Ministry of Finance and the Reserve Bank of India (RBI) in honour of India's G-20 presidency, remarked that the Indian government enjoys a "huge advantage" in local currency borrowing relative to the World Bank, despite the latter's AAA rating.—Inputs from Agncies

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