August 2023 \ News \ News

New Delhi: Finance Minister Nirmala Sitharaman met World Bank Group President Ajay Banga in July and discussed deepening partnership to secure tangible outcomes at the G20 Leaders’ Summit scheduled to take place in September.

“Union Finance Minister Smt. @nsitharaman and World Bank Group @WorldBank President, Mr. Ajay Banga, today in New Delhi. President @WorldBank congratulated the Union Finance Minister for the successful G20’s 3rd Finance Ministers and Central Bank Governors #G20FMCBG meeting in Gandhinagar,” the Finance Ministry said in a series of tweets.

“FM Smt. @nsitharaman appreciated the excellent support of @WorldBank for #G20India Presidency and looked forward to further deepening of this partnership to secure tangible outcomes at the Leaders’ Summit in September,” it added.

“The Union Finance Minister mentioned that bridging the knowledge and technology gaps is key to future economic development and @WorldBank should accelerate efforts to share the Indian development experience with the #GlobalSouth”, it tweeted.

The two leaders discussed India’s sectoral priorities that include municipal financing, logistics, recycling of water, renewable energy grids, for seeking assistance from the World Bank Group in leveraging private investments.

“The World Bank President informed FM Smt. @nsitharaman about @WorldBank’s recent initiative of Private Sector Investment Lab and added that @WorldBank looks forward to a partnership with India to implement ideas that come from this initiative in India. Mr. Banga further said that the ideas implemented successfully can become a working model for other countries,” the Finance Ministry said.