World Bank promises big push to poverty alleviation schemes in India
Wednesday, March 13, 2013
Giving a commitment to help India meet its significant needs by providing finance and knowledge services in response to India’s request to increase support to the low-income States where most of the country’s India’s poor live, World Bank Group President Jim Yong Kim on Wednesday indicated an assured annual funding of $3-5 billion for the next four years to push development projects and poverty eradication programmes.
Addressing a press conference at the conclusion of his three-day India visit, Dr. Kim said: “We have an historic opportunity to accelerate the reduction of poverty in India. The World Bank Group is committed to supporting the Indian people as they pursue this crucial goal…The World Bank Group will work toward continuing its level of annual assistance of $3-5 billion to India over the next four years”.
“We hope, especially working through IFC [International Finance Corporation], $3-5 billion can leverage many more billions for investment in India. We believe that India is a good investment and we will deepen our engagement as much as we can, using every bit of flexibility and creativity to get there,” he said.