Impact of International Bank on Indian Economy

The International Bank for Reconstruction and Development (IBRD) is an institution, which was established after the damage by the Second World War was done to the countries involved. The idea of reconstruction was the first to be conceived, keeping in mind only the involved allies in the war and not the rest of world. India emerges as a subcontinent with economic potential and diversity among the developing economies. India s economy exemplifies fast growth towards being the first among equals. The World Bank s contribution to this economy is enormous making it to be the single largest borrower from this financial institution. Besides, India is a founder member of the World Bank. The country s economic potential owes to the bank s efforts of financially building India s economic developments at both national and local level following India s complex structure and all round need for economic acceleration.

Autorentext

Tom Nyamache,PhD is an Associate Professor and principal Mt. Kenya University Nakuru Campus. With more than a decade of university teaching and administration, he has contributed many research papers and journals. His areas of research include World Bank aspects, International financial institutions, poverty alleviation, and financial integration.