The International Fund for Agricultural Development (IFAD) has announced to give loans to 9 developing in the world including 4 South Asian countries. IFAD is an organization under United Nations and the loan will be given to help the countries to combat rural poverty. You can read the press release in this link. Pakistan is getting loan for rehabilitation of the earthquake victims. India, Maldives and Sri Lanka will get the loans for post Tsunami rehabilitation of the common people.
I know that the governments of these South Asian countries will welcome this news as they always love to get loans on easy terms. The people affected by the earthquake and Tsunami are yet to recover from the distress they suffered. My only concern is that the benefit of this loan will reach to the poor people in the end or not. Many times in South Asia the people have seen that the money do not reach to the poor people and but the loan is paid by the government from the money collected through tax.
The total amount of loans received by the 9 countries is US$145.6 million.
Related Articles
Comment Preview