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Is the Claim That India Took No World Bank Loans in 2015-18 True?

The same message about World Bank loans has also been shared on several occasions last year on Facebook and Twitter.

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The same message about World Bank loans has also been shared on several occasions last year on Facebook and Twitter.
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THE CLAIM

A WhatsApp forward doing the rounds recently claims that India, in over 70 years of its Independence, the only period when India did not take a loan from the World Bank was from 2015 to 2018 – under Prime Minister Narendra Modi’s governance.

The WhatsApp message, sent in by a WebQoof reader, reads: “In the 70-year history of Hindustan, there are only 3 years in which Hindustan did not take loans of one rupee from World Bank. And they are – 2015-16, 2016-17, 2017-18.”

The same message has also been shared on several occasions throughout this year and last year on Facebook and Twitter:

70 साल के इतिहास में केवल 3 साल ऐसे हैं जब भारत ने वर्ल्ड बैंक से कर्ज नहीं लिया 2015, 2016, 2017 ये मोदी की विफलता है...

Posted by Dushyant Mankad on Saturday, June 2, 2018

70 साल के इतिहास में केवल 3 साल ऐसे हैं, जब भारत ने वर्ल्ड बैंक से कर्ज नही लिया 2015, 2016, 2017

Posted by Sutinder Chhabra on Wednesday, May 30, 2018
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TRUTH OF FALSE?

World Bank data shows that for the three-year period in question (1 April 2015 to 31 March 2018), India was granted projects/loans worth more than US$ 20,642 million for 50 projects.

The same message about World Bank loans has also been shared on several occasions last year on Facebook and Twitter.
World Bank data showing Indian projects for which loans were approved during 2015-2018.
(Photo: Screenshot/World Bank)

The biggest of these approved loans was issued in favour of the Swachh Bharat Mission Support Operation on 15 December 2015, worth $3 billion.

The next five biggest loans approved were:

  • Eastern Dedicated Freight Corridor-3 | $1.3 billion | 30 June 2015
  • Grid-Connected Rooftop Solar Program | $1 billion | 13 May 2016
  • North Eastern Region Power System Improvement Project | $940 million | 24 June 2016
  • Maharashtra Project on Climate Resilient Agriculture | $840 million | 27 February 2018
  • Capacity Augmentation of the National Waterway- 1 (JAL MARG VIKAS) Project | $750 million | 12 April 2017

In fact, India is the largest recipient of loans from the World Bank since its Independence ($102.1 billion between 1945 and 2015), a recent lending report published by the Bank said.

(Not convinced of a story you came across on social media and want it verified? Send us the details at WebQoof@TheQuint.com and we'll fact-check it for you. You can also read all our fact-checked stories here.)

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