The Union Cabinet on Thursday gave the go-ahead to the Reserve Bank of India (RBI) to invest $4.3 billion in special bonds of the World Bank as it would help in securing additional funding from the multilateral lending agency for infrastructure development projects.

Borrowing

The Cabinet decision to allow the RBI to enter into a special private placement bond agreement with the International Bank for Reconstruction and Development, the World Bank’s lending arm, will provide additional borrowing space.

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