World Lending Institutions


World Lending Institutions


To get a loan from somebody is not an easy joke.  It requires lot of ingredients and talents for someone to approach for a loan.  The consequences are more serious and at some intervals, you need to feel that it may be redundant now as he is not in a favourable situation to lend money. Before going to someone for an accommodative loan we need to see very many details.  The lender will be in a position to lend, or is it the right time, will he accept our request and is he capable of meeting your requirements, or is it the right time to peruse our request.  All these credibilities of the lender have to be gone through.

More than this the time has to be taken note, whether we are going in the right time to ask our request.  Is it the good time to talk to him now, is he facing any calamity, or a bad news has cropped in his house due to someone’s death at his place, or some other reason which has created some confusion in his family, like this so many things, shall go into our minds before we put a request to him.  Always the right occasion would be on good days where he is in an enjoying mood over a marriage, a function the whole family is united and real happiness surrounds his family and he is a total joy of good many things happening to him.  This would be an ideal situation where we can negotiate our need and ascertain whether he would be able to push in our demand and help us.


More than this you need to have oratorical skills to acquire some good loans from someone.  You need to talk at length and convince the lender that you are the right person and you have the credentials to pay back and pay the interest as well as capital in the time anticipated. By this the lender even if he has no source, he would go out a step and outsource your requirement and lend you because he has accepted your skills and valour in Toto.

Just to fresh up your thoughts, if the foresaid activities are for an individual and how much of formalities are to be gone through, just think about how our world bank is inclining to give to very many countries in the world for their need and requirement. With a basic interest in all the countries whether it is developed or under developed or even a developing country can take the aid of the World Bank.  The Banks’ main aim to help all the Nations to have all the infrastructural requirements like good transport facilities, Good roads and highways, Required constructions to pep the improvement too. Many countries have to develop their water resources, build dams, and create proper irrigational facilities. Build in a streamlined transport system in their country and help the citizens to use the facilities.  Create housing schemes for the downtrodden and organise water facilities to take care of their requirement. The Banks lends to all these countries at a structured low-interest rate and the loan would be for longer periods and time. This is a very good aim by the World Bank and it considerably eases the pressure of the developing Nations in a clear cut way. If a country is approaching for other purposes like developing their Infrastructure on preparing for eventual War and its equipment’s like, warships, Aeroplanes, Nuclear ammunitions etc., means the Bank would not consider these things because all these are too destructive mode and this would not come into the ambit of their lending. Suppose a developing nation wants it for constructive purposes and create proper viable propositions to improve their citizen’s need means, it would be a welcome proposal.  Some countries even propose in such a way and at the end use it for a different purpose which will not go into caring the interest of the people at large and diversify into unethical ways.  We go into so many details to give an individual a loan and getting it back with interest.  Likewise, these countries also do not bother with the lines of credit and misuse it and at the end get into loggerheads while repaying the huge loans.

The interest of the World Bank is to help in timely the countries to benefit their developments in a systematic way to enable its people and the common man to get the derived benefit out of it.  Of course, the duty of the rulers and politicians plays an important role in the functioning and using of these huge credits. They peep in between and spoil the broth by their own and their party’s diversification interest. For instance, you would be wonderstruck that if I say that our Tamilnadu has to pay back around 2 lakh crores of Rupees to World Bank. None of us knows about the details of this credit and for what purpose it has been obtained.  The development d details of the same and the least expectations by us are known to the government.  We are just a force to reckon with all these formalities and live with the same. And we also do not know to which length the schemes have been drawn and to what levels they have come up and who are the answerable too.


We just know one thing for sure that our rulers of the State both the DMK and AIADMK have obtained.  We have only voted them for power and in turn, they have been occupying the throne in equal measures and they have been responsible for the 2 lakh crores of rupees borrowable and they have been saying that these are put on development schemes and so on so forth.  Of course, we have only voted them to power and they are alone responsible and capable of borrowing from the World Banks If the said money is borrowed for personal reasons they would not have done and responsibility cannot be evaded.  This is not their outlook and just because they have been in power and their responsibility to seek the assistance and fill in the coffers. To what segregated scheme the money has been spent, to what development the same has been utilised, to what level the infrastructural developments have taken place , to what level the Per-Capita income of the individual has been raised, it is the question which has not been answered by any politician. If they are responsible and to be counted because of their signatures on the deals means they would never venture on these loans.  They are aware it is totally for the government and nobody would be held responsible at the end.

A plea and for a simple reason just look at the politician who comes to you for voting while the elections are on and take into account his status at the time. After voting him and after a few years look at him, he would be nowhere to what he was. He would have grown by leaps and bounds and become wealthier and wealthier.  Now you can have your own calculations about the borrowed 2 lakh crores of Rupees and to which are all the schemes it has gone in. Nobody has any evidence to prove and see through it.

A request to the World Bank lending team, please you need not go through India for the lending request and the deals which have been concluded.  All the states the same would be prevailing. I only request you to take cognisance of the 2 lakh crores which has been lent to Tamilnadu in the past twenty years.  Do take stock of the application of the funds to what it has been applied, ask for the details of how the same has been utilised and how the benefit has been passed on to the common man.  You would be stunned to see the records and the end use of the funds. It would not be the same as it was proposed.  The curse on our politician spoils the interest of the people getting the use and getting developed.

We only request the Banks to take note of the lending principles and see that the State which seeks assistance the ruling party at the time of the obtaining of a loan are supposed to be made responsible.  Then you would see the accountability and when it happens everyone would be afraid of the usage of funds and would be in a position to reach the end-user.

Will this happen or not much to be seen in the future lending policies of World Banks.


T Mohenchander

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