Kalam seeks Bank's help in pushing rural growth

President APJ Abdul Kalam yesterday asked the World Bank to assist India in its rural development in a big way for uplifting 700 million people living in villages.

"It would be appropriate as a next step of development financing that the World Bank can become a partner in enabling NGOs and the corporate sector for undertaking development of viable clusters of villages for their sustainable development in a big way," Kalam said, inaugurating the 'country-level development marketplace' organised by the World Bank here.

He said an outlay of $20-40 million was required for development of each of the rural clusters.

"Such investment, besides providing urban amenities in rural areas, will also become a sustainable business proposition," he said.

Kalam said the banking sector and postal department can work with the World Bank to fund rural projects.