From India To China: 10 Countries That Are Serving The Biggest Loans From World Bank (2024)

From Pakistan to Ukraine, many crisis-hit nations have been knocking on the door of theWorld Bankto get loansto battle the respective adversities the countries are facing.

WhileUkrainecurrently has a $10,077,737,094.36 repayment obligation towards theWorld Bank,Pakistanowes $2,397,292,263.11 to the Ajay Banga-led organisation.

However, despite these massive loans, neither of the two nations is among the top 10 countries that are serving the biggest amount of loans to the World Bank.

So which are the countries that currently have the highest amount of loan from the World Bank? Let's find out.

List Of Countries With Biggest Loans From World Bank

ET

With a borrower's obligation of more than 2,000 crore dollars currently, India owes the most amount as loan repayment to the World Bank. Here's the list of 10 countries that are serving the biggest loans to be repaid to the World Bank (as per world bank data).

1. India

$20,712,853,300

2. Brazil

$15,872,819,482

3.Indonesia

$19,814,170,571

4.Mexico

$14,995,434,689

5.China

$15,559,862,065

6.Turkiye

$11,236,467,247

7. Argentina

$9,498,278,954

8.Colombia

$15,048,767,376

9.Philippines

$11,642,970,124

10.Morocco

$9,319,698,401

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Also Read:From Pakistan To Ukraine -List OfCountriesThat Are Facing Debt Crisis

Who Gives These Mammoth Loans To Countries?

Its the lending arm of World Bank group- International Bank for Reconstruction and Development (IBRD), who gives loans to countries.The loans are public and are a publicly guaranteed debt extended by the World Bank Group. IBRD loans are made to, or guaranteed by, countries that are members of IBRD. IBRD may also make loans to IFC. IBRD lends at market rates.

The loan amounts mentioned above are as per World Bank data updated on September 19, 2023.

Who Is Ajay Banga, World Bank's Current President

joe biden/twitter

Padma Shri recipientAjay Bangagot into the history books this year bybecoming the first Indian-American to be elected as World Bank President. The former Mastercard CEO, who was born in Pune, began his five-year term asWorld Bank President on June 2, 2023. US President Joe Biden himself nominated Bangafor the role.

The Executive Directors of the @WorldBank today selected Ajay Banga as the President of the World Bank. Mr. Banga begins his five-year term on June 2, 2023.

Read the news release: https://t.co/xeSDLCwGUn pic.twitter.com/2Q2MVT0VBH

— World Bank (@WorldBank) May 3, 2023

Before Ajay Banga, these people had held the position of World Bank President in the past.

Also Read:Explained: Why All 13 Presidents Of The World Bank Have Been From US

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