By Anjali Sharma
WASHINGTON – India Union Finance Minister Nirmala Sitharaman on Wednesday held a meeting with World Bank President Ajay Banga on the sidelines of the World Bank and International Monetary Fund Annual Meetings 2024, in Washington, DC.
Both sides discussed issues related to private capital participation in Global Public Goods, Energy security, and Multilateral Development Banks reforms.
Ms. Sitharaman said that she is looking forward to the World Bank taking forward the Independent Evaluation Group’s recommendations on MDBs reforms from India’s G20 Presidency.
She stated in a post on social media platform X, “Union Minister for Finance and Corporate Affairs Smt. @nsitharaman met Mr. Ajay Banga, President @WorldBank on the sidelines of the World Bank and IMF #AnnualMeetings2024, in Washington DC, today. The two discussed issues related to private capital participation in Global Public Goods, #Energy security, and Multilateral Development Banks #MDBs reforms.”
“The Union Finance Minister said that she is keenly looking forward to @World Bank to take forward the IEG’s recommendations on #MDBs reforms from India’s G20 Presidency and also requested for regular monitoring on the implementation of the recommendations going forward,” it added.
“FM Smt @nsitharaman also stressed on a broader consultation process on the advisory mechanism jointly convened by @WorldBank and @IMFNews for discussing Bretton Woods Institutions @80. Mr. Banga noted substantial progress on the IEG recommendations, which are set to be presented at the G20,” the post further said.
“He emphasized the WBG’s focus on jobs, knowledge frameworks, bankable projects and reiterated emphasis on collaborating with India’s budget priorities, including skilling, water and sanitation and urban development,” it added.
Sitharaman emphasized on the broader consultation process on the advisory mechanism jointly convened by the World Bank and IMF.
Banga reiterated the World Bank’s interest in collaborating with India’s budget priorities, including skilling, water and sanitation and urban development.
Sitharaman took part in a panel discussion on the ‘Bretton Woods Institutions at 80: Priorities for the Next Decade’, organized by the Center for Global Development in Washington, DC.
Ministry of Finance said in an earlier press release that Ms. Nirmala Sitharaman participated in the Annual Meetings of the International Monetary Fund and the World Bank, the 4th G20 Finance Ministers and Central Bank Governor Meetings, besides the G20 Joint Meeting of FMCBGs, Environment Ministers, and Foreign Ministers; and G7 Africa Ministerial Roundtable.
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