IFC Plans Record India Lending as Rising Rates Lure Power, Oil Companies

(Bloomberg) -- The World Bank arm that invests in
companies said funding for India, its biggest recipient, will
surpass last fiscal year's record $1 billion as interest rates
at a five-year high deter companies from borrowing at home.

The International Finance Corp. will commit $500 million of
the funds in the year ended June 30 to infrastructure, focusing
on oil, transportation, power and gas projects, said Anita
George, chief investment officer of the World Bank division that
lends to companies in emerging markets.


Read more at Bloomberg Emerging Markets News

Ethiopia secures $220 mln World Bank loan for roads

(Reuters) - The World Bank has given Ethiopia a $220 million loan to rehabilitate and upgrade 579 km (359.8 miles) of rural roads, the Ministry of Finance and Economic Development said on Monday.

The fund will be used to upgrade and repair roads in the country's agricultural belt including its coffee growing areas.


Read more at Reuters Africa

UPDATE 1-Wolfowitz row seen hurting Africa anti-graft drive

(Reuters) - DAKAR, May 18 - The World Bank has roared against
corruption in Africa for years but its credibility has been
badly mauled by the favouritism scandal that sent the bank's
U.S. chief Paul Wolfowitz limping off into retirement.




Governments in Africa, whose reputation for corruption goes
hand in hand with its status as the world's poorest continent,
had grown used to being lectured by World Bank delegations, some
headed by "Wolfie" himself, about good governance and
transparency.


Read more at Reuters.com Bonds News