11 hrs ago

India and World Bank Seek Deeper Capital Partnership

Sitharaman meets World Bank chief Ajay Banga, discuss deepening cooperation · livemint.com

India and the World Bank want to work together in more ways than giving traditional loans.

Finance Minister Nirmala Sitharaman met World Bank President Ajay Banga to discuss this plan.

They talked about using guarantees to attract more private money for infrastructure and bonds.

They also discussed helping Indian companies investing in other countries manage political risks.

Another idea is to create a knowledge hub for digital public infrastructure in India.

This hub could explore how technology can help areas such as agriculture.

The two sides also want to improve tourism destinations with help from several World Bank Group institutions.

They hope the partnership will support knowledge, innovation and investment.

Key facts

Development financing: The World Bank Group processed $1.5 billion in Development Policy Financing for India.
Small-business support: The International Finance Corporation supported micro, small and medium enterprises through the Small Industries Development Bank of India.
Guarantees: India and the World Bank Group discussed greater use of Multilateral Investment Guarantee Agency guarantees to deepen corporate, infrastructure and municipal bond markets.
Infrastructure: The leaders considered a sector-based, programmatic approach to credit enhancement for infrastructure.
Digital infrastructure: India and the World Bank Group are working toward establishing a Global Digital Public Infrastructure Knowledge Hub in India.
Tourism: India proposed globally competitive tourism destinations under the new India–World Bank Group Country Partnership Framework.
Overseas investment: The discussions included political risk insurance for Indian companies investing overseas.

livemint.com · 11 hrs ago

thehansindia.com · 12 hrs ago