17 Oct , 2021 By : Kanchan Joshi
World Bank Group president David Malpass on Sunday congratulated union finance minister Nirmala Sitharaman on India's successful Covid-19 vaccination campaign. The World Bank president thanked FM Sitharaman for India's important role in Covid vaccine production and distribution. Sitharaman met Malpass at the World Bank headquarters in Washington DC.
President Malpass reaffirmed the World Bank’s strong commitment to India across all World Bank Group entities including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
Malpass and Sitharaman also discussed India’s efforts on climate change action, emphasizing the need for scaling up climate finance for impactful projects in line with Nationally Determined Contributions (NDCs) and development goals.
During the meeting, Sitharaman appreciated the World Bank Group for their initiative for increasing lending space for India to enhance availability of finance for development.
The minister also mentioned that the focus should be on technologies that need to be moved from lab to field and those that require targeted global research in the pursuit of low carbon growth.
The finance minister highlighted three broad suggestions, including strengthening technology, infrastructure sector and financial sector reforms.
The World Bank president also complimented India's effort toward financial reform and offered the World Bank to host round table discussions and provide operational support.
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