India has applied for $2.5 billion in infrastructure funding from the World Bank and the Asian Development Bank.

The news reports that due to the impact of the Middle East conflict, India's expansion of fiscal expenditure is limited. The New Delhi authorities are exploring new funding channels and are currently in consultations with several multilateral financial institutions. They plan to raise approximately $2.5 billion from existing credit lines. Sources revealed that the World Bank and the Asian Development Bank are each discussing lending $1.5 billion and $1 billion, respectively, with announcements expected to be made in the next two months. The sources, who requested anonymity due to the sensitive nature of the matter, added that the funds will mainly be used to improve urban infrastructure and create job opportunities. The sources also stated that this round of loans application will be included in India's cooperation framework with the World Bank Group, in which both parties have signed an agreement to provide financial support of $8 to $10 billion annually over a five-year period.