FM calls for aligning World Bank processes with MDBs to benefit client states

Finance Minister Nirmala Sitharaman called upon the World Bank to take lead in aligning processes and procedures with other multilateral development banks to benefit client countries that deal with multiple MDBs, amidst encouraging signs of progress towards G20 countries common goal of creating a better, bigger and more effective' WB to address national and global challenges for maximising developmental impact. "We believe that the direction of the World Bank's evolution will set the template across the MDB ecosystem," said Sitharaman, participating in the 108th Meeting of the Development Committee Plenary of the World Bank in Marrakech, Morocco.

- NIVEDITA MUKHERJEE

India has extended support to the World Bank's new vision to create a world free of poverty on a liveable planet, end extreme poverty and boost shared prosperity on a liveable planet. This, said the Finance Minister, gives World Bank, a formidable mandate to both fight poverty and address global challenges. Recognising that further work is needed beyond Marrakech to increase the Bank's capacity to realise our enhanced ambition, the Finance Minister noted that it was important to ensure that the augmented WB Group co