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Jyoti Basu asserted that the Left Front Government would not take any loan from the World Bank on unjust and humiliating terms. West Bengal is a self-respecting State and the World Bank has been informed of the State’s stance. Basu hoped that the Bank would withdraw the unjust conditions, particularly the one on relating to its own review of the state economy. Basu made these observations when asked by reporters in Calcutta on last Wednesday to comment on the conditions proposed to be tagged with the loans the Bank may offer to the state for funding projects.

It may be mentioned that the World Bank had initially evinced an interest in finding PED, Road construction, urban development and panchayat schemes worth Rs. 2300 crores without attaching any strings, later the Bank came up with unjust terms. The Bank initiated discussion with the State Government on the projects, but proposed additional conditionalities later which not only affected the self-respect of the State and sovereignty of the country itself. The World Bank officials have been told that if they were interested in clarifying any point clear pertaining to the State's economy it could do so with the help of the Economic Survey and the Budget prepares placed before the State Assembly. Beyond these, the State Government would not entertain request for further government documents of the World Bank choice. The State’s Finance Minister, Dr. Ashim Dasgupta has also reiterated that the Left Front Government could not under any circumstances concede an outside organisation’s demand for making a review of the State’s economy. In reality, such a demand was contrary to the States right granted under the Indian Constitution. Dr. Dasgupta wondered why the World Bank did at all make such an unreasonable request.