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She mentioned that India remains concerned about the risks to global recovery due to rising uncertainty amidst enhanced geopolitical tensions
Photo Credit : PIB
The union finance minister, Nirmala Sitharaman and the group president of World Bank, David Malpass met in Washington DC on Saturday to discuss various issues, including India’s continued recovery from the Covid-19 pandemic; the impact of the Russia-Ukraine conflict on the world economy and India in particular.
According to the finance ministry, both of them also discussed the economy and role of the WBG; the single borrower limit and exploring the possibility of guarantees from other nations, India’s G20 presidency and the World Bank's leadership in India after CD’s departure.
Sitharaman stated that India’s pandemic response has focused on the twin goals of saving lives and livelihoods. India has been successfully running the world's second-largest vaccination programme, administering more than 1.85 billion doses of vaccine.
She mentioned that India remains concerned about the risks to global recovery due to rising uncertainty amidst enhanced geopolitical tensions.
Sitharaman also suggested that multilateralism has become more critical as the world is undergoing a phase of exceptional uncertainty. On account of the pandemic and the recent geopolitical developments, there is a need for the World Bank to come to the rescue of countries facing debt stress. In particular, the World Bank needs to pay special attention to Sri Lanka, which is facing an unprecedented economic situation.
The finance minister highlighted India's roadmap for infrastructure development and looking forward to World Bank’s continued support for financing investments for the national infrastructure pipeline and Gati Shakti programme