India is said to be in talks with multilateral lenders to secure about $2.5 billion in funding from existing credit lines as New Delhi tees up fresh sources of money after the Middle East conflict crimped its ability to step up spending.
The World Bank and Asian Development Bank are in discussions to disburse loans worth $1.5 billion and $1 billion respectively, with announcements likely within the next two months, according to people familiar with the matter. The funding is largely to boost urban infrastructure and create jobs, they added, asking not to be identified discussing private matters.
