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|June 3, 1998||
World Bank puts off two more loans to India
The World Bank has postponed two more loans to India, bringing to more than $ 1 billion the amount held up because of the nuclear tests.
Yesterday's step by the Bank's executive directors postponed $ 206.4 million in loans. Last week, the Bank delayed four loans totalling $ 865 million after the United States, Japan and Canada urged no action on the money.
The $ 130 million loan for an agriculture project and $ 76.4 million for a health care project were scheduled to be discussed by the Bank's executive board on Tuesday.
''But in response to requests from several executive directors, consideration of the loans has been postponed to a date to be determined,'' a Bank official said.
Officials familiar with the Bank operations say that once loans get postponed, it can takes several months and perhaps longer for them to be reconsidered.
India was scheduled to get roughly $ 3 billion in loans from the Bank this fiscal year that ends June 30. Some $ 1 billion had already been approved before the country's nuclear tests.
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