As of December 2021, India has borrowed the most money from the World Bank, with a total outstanding debt of $39.7 billion. Indonesia is the second-largest borrower, with $19.6 billion in debt, followed by Pakistan ($18.3 billion), Bangladesh ($17.8 billion), and Vietnam ($16 billion).
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| Biggest borrower of the World Bank |
India has borrowed the most money
The World Bank lends money to developing countries to help them finance projects that promote economic growth and poverty reduction. The loans are typically made at below-market interest rates and have long repayment terms.
The top 10 borrowers from the World Bank in December 2021 are:
- 1. India ($39.7 billion)
- 2. Indonesia ($19.6 billion)
- 3. Pakistan ($18.3 billion)
- 4. Bangladesh ($17.8 billion)
- 5. Vietnam ($16 billion)
- 6. Colombia ($13.5 billion)
- 7. China ($13.4 billion)
- 8. Nigeria ($12.9 billion)
- 9. Turkey ($12.7 billion)
- 10. Egypt ($12.6 billion)
It is important to note that the World Bank does not lend money to high-income countries. The countries listed above are all considered to be low- or middle-income countries.
Who gets loans from the World Bank
The World Bank can lend money to two types of borrowers:
Governments of low- and middle-income countries, The World Bank's International Bank for Reconstruction and Development (IBRD) lends money to governments of middle-income countries, while the International Development Association (IDA) lends money to the poorest countries in the world.
Private enterprises, The World Bank's International Finance Corporation (IFC) lends money to private enterprises in developing countries.
To be eligible for a loan from the World Bank, a borrower must meet the following criteria:
The borrower must be a sovereign government or a private enterprise in a developing country.
The borrower must have a good credit rating.
The borrower must be able to demonstrate that the loan will be used for a project that will promote economic growth and poverty reduction.
The World Bank also considers the following factors when evaluating a loan application:
The borrower's track record of repaying loans.
The borrower's economic and financial situation.
The project's potential to generate economic benefits.
The project's environmental and social impact.
If a borrower is approved for a loan from the World Bank, the loan will typically have a below-market interest rate and a long repayment term. The World Bank also requires borrowers to meet certain conditions, such as implementing good governance practices and protecting the environment.
Here are some examples of projects that the World Bank has funded:
Building roads and bridgesProviding clean water and sanitationDeveloping renewable energy sourcesImproving education and health carePromoting financial sector developmentSupporting private sector investment
The World Bank's loans have helped to improve the lives of millions of people around the world. By providing financing for development projects, the World Bank is helping to reduce poverty and promote economic growth in developing countries.