Almost half of India’s World Bank loans are interest free. These are provided at zero rates of
interest with only a 0.75 percent charge by the International Development Association, a World Bank agency. The rest of India’s World Bank loans are provided at low rates of interest by the International Bank for Reconstruction and Development (IBRD), another World Bank institution. Countries have more time to repay IBRD loans as compared to those taken from a commercial bank; these loans can be repaid over 15 to 20 years, with a three-to-five-year grace period before the repayment of principal begins.
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