International Development Research Centre (IDRC) extends grant assistance to various
      governments and non-government organizations for projects in the field of agriculture, health
      and family welfare, etc.
      Credit to Developing Countries
            Lines of Credit (LoC) form an important component of India’s diplomatic strategy and have
      been very useful in generating goodwill and building long term partnerships. The Scheme also
      attempts to promote India’s strategic political and economic interest abroad by positioning it as
      an emerging economic power, investor country and partner for developing countries. The
      Scheme is also expected to boost Indian export of goods and services to hitherto untapped
      markets and successfully showcase India’s expertise in project planning, design and
      implementation in diverse areas of socio-economic development such as power, irrigation,
      agriculture, transport, etc. India has been extending Lines of Credit to Africa and other
      developing countries under the Indian Development and Economic Assistance Scheme (IDEAS)
      since 2005-06.
      International Monetary Fund
            India is a founder member of the International Monetary Fund (IMF) which was established
      to promote a cooperative and stable global monetary framework. At present, 188 nations are
      members of the IMF. Since the IMF was established, its purposes have remained unchanged but
      its operations - which involve surveillance, financial assistance and technical assistance - have
      developed to meet the changing needs of its member countries in an evolving world economy.
      The Board of Governors of the IMF consists of one Governor and one Alternate Governor from
      each member country. For India, the Finance Minister is the ex-officio Governor on the Board of
      Governors of the IMF. There are three other countries in India’s constituency at the IMF, viz.
      Bangladesh, Bhutan and Sri Lanka. Governor, Reserve Bank of India (RBI) is India’s Alternate
      Governor.
      Relevant Website: www.imf.org
      World Bank
            India has been borrowing from the World Bank through International Bank for
      Reconstruction and Development (IBRD) and International Development Association (lDA) for
      various development projects in the areas of poverty reduction, infrastructure, rural development,
      etc. IDA funds were one of the most concessional external loans for Government of India and
      were used largely in social sector projects that contribute to the achievement of millennium
      development goals.
      Relevant Website: www.worldbank.org
      International Finance Corporation
            International Finance Corporation (IFC), a member of the World Bank Group, focuses
      exclusively on investing in the private sector in developing countries. Established in 1956, IFC
      has 184 members. India is founding member of IFC. It is an important development partner for
      India with its operations of financing and advising the private sector in the country. India
      represents IFC’s largest portfolio exposure globally. The IFC’s investments in India are spread