FM Arun Jaitley stresses on capital increase & reforms in World Bank

arun-jaitleyUnion Finance Minister Arun Jaitley stressed on capital increase and the need for reforms in the World Bank to reflect the emerging world order in its governance.

In a meeting with Sri Mulyani Indrawati, Managing Director, World Bank Group, the Finance Minister complimented the World Bank MD for setting the twin global goals of removal of global poverty and increasing shared prosperity aligned to the Sustainable Development Goals (SDGs).

Indrawati assured support of the World Bank Group to partner India’s development strategies through delivery of diversified programmes of financing, knowledge exchange and capacity building.

Among other things, this discussion focused on the Prime Minister’s six priority areas for World Bank financing. The roadmap and timelines for the World Bank Group’s capital increase and shareholders’ review, procurement and environment and social safeguards framework of the Bank were also discussed.

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