World Bank Group raises $36B to boost jobs in India
The World Bank Group has pulled in $36 billion in private capital since FY22 to help create more jobs in India, a huge leap from just $3 billion a few years ago.
This push is all about supporting private sector growth and is rising from approximately $3 billion in FY22 to $14.5 billion in FY26.
World Bank $9.6B backs India MSMEs
A major chunk, $9.6 billion, has gone straight to micro, small, and medium enterprises (MSMEs), giving more than 250,000 of them better access to funding through new lending systems.
Women-owned businesses are also getting a lift with more than $1 billion in credit guarantees.
Plus, the Green MSME Guarantee Fund has backed sustainable projects for more than 4,000 businesses as India aims to become an upper-middle-income economy over the next decade and achieve the Viksit Bharat vision by 2047.