World Bank chief Zoellick in India Monday
March 25th, 2012 - 6:57 pm ICT by IANS
New Delhi, March 25 (IANS) World Bank Group President Robert B. Zoellick will begin his fourth official visit to India from Monday to take stock of the efforts to overcome poverty and other development related projects on the eve of the beginning of the 12th Five Year Plan.
“Shifts in the world economy could affect India’s growth momentum and sharpen its development challenges. The Bank stands ready to continue to support India with its knowledge and financial resources to meet the challenges ahead,” Zoellick said in a statement ahead of the visit.
During the visit Zoellick is scheduled to meet India’s top economic policy makers including Finance Minister Pranab Mukherjee and Planning Commission Deputy Chairman Montek Singh Ahluwalia.
The World Bank president is also scheduled to meet Home Minister P. Chidambaram, Rural Development Minister Jairam Ramesh and several other government officials and policy makers, according to a statement issued by the Washington-based World Bank.
India is one of the founding members of the World Bank and is among the top aid recipients.
India is the largest client for the International Bank for Reconstruction and Development (IBRD), which lends to middle income countries and its private sector arm and the International Financial Corporation (IFC).
The World Bank Group in its last fiscal (ending June 2011) made $6.33 billion available to India, including $3.46 billion from IBRD, $775 million from IFC, and $2.07 billion from its fund for the poorest, the International Development Association (IDA).
“India’s needs are great, so I am here to explore with the government of India innovative ways in which our joint financial capacities can be leveraged, especially in infrastructure financing, so that India can build the roads, highways, railway lines and power plants needed to propel growth,” Zoellick said.
- CII, World Bank Group ink pact to save tiger (With Images) - Jun 27, 2012
- India's growth helping global economy: World Bank chief - Jan 09, 2011
- Gender equality is smart economics: World Bank - Sep 19, 2011
- IFC invests $2.7 million in ATM maker Vortex Engineering - Jun 25, 2012
- India to grow 8-9 percent in next two years: World Bank - Dec 04, 2009
- Expert group supports World Bank governance reform - Oct 22, 2009
- India wants World Bank to raise lending limits - Apr 17, 2011
- World Bank directs $6.6 bn to South Asia; $400 mn to India - Jul 03, 2009
- World Bank must help tackle global growth risks: New chief - Jul 03, 2012
- World Bank wants effective social safety nets - Apr 19, 2012
- World Bank increases Pakistan flood support to $1 bn - Sep 02, 2010
- World Bank loan to clean the Ganga - Jun 13, 2011
- World Bank approves funding for India's agricultural project - Mar 28, 2012
- India seeks more voice for poor in World Bank - Apr 25, 2010
- India, China's voting power increased in World Bank's IBRD - Apr 26, 2010
Tags: aid recipients, development minister, economic policy makers, government of india, group president, growth momentum, home minister, international bank for reconstruction and development, jairam ramesh, middle income countries, montek singh ahluwalia, p chidambaram, power plants, pranab mukherjee, private sector arm, railway lines, robert b zoellick, world bank group, world bank president, world economy