World Bank should help India, says Chidambaram

ASKING FOR HELP: Chidambaram made the appeal in Frankfurt, on his way to Washington.

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Frankfurt: Finance Minister P Chidambaram has said that the World Bank should enhance assistance to India to help tide over the fallout of the global financial crisis on his way to the G-20 summit in Washington.

''The World Bank can step up lending to India from the present level of $3 billion a year for Central and State projects and programmes. It is very important that the few countries that are able to drive economic growth and other countries which are put on the bandwagon of development, should not suffer in the period during which we grapple with the world crisis. Resources must be made available to developing countries, including India, so that they can continue to grow," Chidambaram said.

Chidambaram and Prime Minister Manmohan Singh made a brief stop in Frankfurt, on their way to Washington where the Finance Minister made the appeal.

World leaders are meeting in the Washington to discuss ways to tackle the global financial meltdown.

Manmohan Singh is likely to demand a bigger say for India in financial bodies such as the International Monetary Fund and the World Bank.

He is also likely to express India's desire to cooperate with China, South Africa, Mexico and Brazil with regard to monetary and fiscal policies.