Jaitley emphasizes need for increasing World Bank Portfolio for India
Finance Minister Arun Jaitley has emphasized the need for increasing the World Bank Portfolio for India during a meeting with the Chief Executive Officer of World Bank Group, Kristalina I.
Georgieva in New Delhi today. Jaitley said, India has now decided to take assistance from the World Bank only through International Bank for Reconstruction and Development(IBRD).
He said, an increase in IBRD support is imperative to meet India’s current requirement of 5 to 7 billion dollars and a huge pipeline of projects. In addition, he also stressed on the need for capital increase in the Bank Group.
On financing issues, Jaitley highlighted the need for lowering the effective rate of interest on World Bank loans by removing the commitment charges levied on the undisbursed loans and exploring innovative options. Georgieva is currently on a two day official visit to India to better understand the long standing partnership between India and the World bank and to discuss the Bank’s strategy and program in India.
You might also like
Karnataka budget for 2017-18 announced by Chief Minister Siddaramaiah on Wednesday brings cheers to wine and cinema lovers. As per the provision, Value Added Tax (VAT) on liquor (including beer,
Mumbai, March 31: Reversing its earlier order, the Reserve Bank of India today said that the bank branches dealing in government businesses need not remain open on April 1 in
Country’s foreign exchange reserves declined by USD 956.4 million to USD 368.998 billion for the week ended April 7 due to fall in foreign currency assets. The Reserve Bank said
Mumbai, March 05: India’s foreign exchange reserves increased by USD 63.7 million to USD 362.79 billion in the week ended 24th February 2017. A RBI press release has informed
Sanjay Bajaj, MD – Pune gets strategic oversight of West India and Industrial Services Mumbai, March 09: JLL, India’s largest and leading International Property Consultancy, today announced the elevation of
New Delhi, March 31: The limited period window for exchange of junked 500 and 1,000 rupee notes by Indians who were abroad during demonetisation ended today. However, additional time period