Washington DC: Union Finance Minister Smt. Nirmala Sitharaman and the President of World Bank Group Mr. David Malpass met on October 16, in Washington DC.
The two leaders discussed various issues, including India’s G20 Presidency, improving the capital adequacy framework oF MDBs, addressing debt vulnerabilities, and enhancing WBG’s engagement with India through Knowledge Exchange and MIGA.
Finance Minister Smt. Sitharaman thanked Mr. David Malpass for a productive Development Committee meeting and support to India over the last two years especially in increasing the Single Borrower Limit.
The Finance Minister mentioned that World Bank has been a valuable partner of the G20 since inception and India looks forward to close collaboration with World Bank during upcoming G20Presidency.
Impressed by the quick and deep penetration of Government of India’s financial inclusion and digitalization initiatives among the poor; Mr David Malpass, President World Bank assured FM Smt. Sitharaman of showcasing this before other Finance Ministers as a way for governments to help their poor leapfrog in these challenging times.
FM Smt. Sitharaman mentioned that during its Presidency, India would like the G20 to explore the potential for MDBs to enhance Climate Financing through leveraging and intermediating resources.
News & Image Source : psuconnect.in
