From India To China: 10 Countries That Are Serving The Biggest Loans From World Bank (2024)

FAQs

From India To China: 10 Countries That Are Serving The Biggest Loans From World Bank? ›

The World Bank lends around US$27.1 billion to India, which makes it the largest country of IBRD support.

The World Bank lends around US$27.1 billion to India, which makes it the largest country of IBRD support.

Within the World Bank Group, China is one of the largest loan-taking countries. From 2016 to 2018, China was the second largest borrower with $6.19 billion in loans, a number less than India ($8.05 billion) and more than Egypt ($5.23 billion).

The World Bank is an international development organization owned by 187 countries. Its role is to reduce poverty by lending money to the governments of its poorer members to improve their economies and to improve the standard of living of their people.

India ranks 38 out of 139 countries on World Bank's Logistics Performance Index Report 2023; India's rank has improves by sixteen places from 54 in 2014.

Bhutan is the primary recipient of Indian government grants and loans. The loan provided in the fiscal year 2023-24 exceeded the budget estimates for grants and loans in 2024-25. Finance Minister Nirmala Sitharaman highlighted the challenges posed by the Covid-19 pandemic, conflicts, and geopolitical shifts.

The U.S., the world's largest economy, owes India $ 216 billion in loan as the country's debt grows to a record $ 29 trillion, an American lawmaker has said, cautioning the leadership against galloping foreign debt, the largest of which comes from China and Japan.

The Indian Government is the largest borrower in India, and it borrows money to finance its various expenditures and initiatives. Reasons for Indian Government being the Biggest Borrower: 1.

As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

[2] A report by the credit rating agency S&P Global in 2022 estimated that 79 per cent of corporate debt in China was owed by SOEs (the IMF does not break down the proportion of debt owed by SOEs).

Who is the largest borrower of World Bank? ›

India takes the top spot. Its $39.7bn debt towards the WB recorded at the end of 2021 is double that of the next biggest debtor, Indonesia, with $19.6bn. Pakistan and Bangladesh follow with $18.3bn and $17.8bn, respectively, according to WB figures.

Pakistan was the top borrower of the World Bank's International Development Association (IDA) for the fiscal year 2023, receiving $2.305 billion, as per the bank's annual report. Bangladesh and Tanzania took the second and third spots, borrowing $2.3 billion and $2.135 billion respectively.

The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy, financial or membership issues.

Loan Amounts

World Finance offers personal installment loans from roughly $450 – $10,000.

Top Foreign Holders of U.S. Debt

With $1.1 trillion in Treasury holdings, Japan is the largest foreign holder of U.S. debt. Japan surpassed China as the top holder in 2019 as China shed over $250 billion, or 30% of its holdings in four years.