NEW DELHI: World Bank has said it will extend full financial support to India to help enhance the abysmal level of infrastructural development in the country in the 12th Five Year Plan that begins next fiscal.
The World Bank president Robert B Zoellick, who begins his fifth and last official visit to India on Monday, has expressed intent to discuss innovative methods of financing with Indian leaders during his stay.
"India's needs are great, so I am here to explore with the Government of India innovative ways in which our joint financial capacities can be leveraged, especially in infrastructure financing, so that India can build the roads, highways, railway lines and power plants needed to propel growth," Zoellick said.
The World Bank group lent a total of $6.33 billion in the last calendar. The lender also promises to assist in improving levels of social indicators in India by facilitating access to knowledge and finance.
"Shifts in the world economy could affect India's growth momentum and sharpen its development challenges. The bank stands ready to continue to support India with its knowledge and financial resources to meet challenges ahead,"World Bank president said. He plans to meet several government leaders in India to help outline the roadmap for the bank's engagement in the country over the next four years.
"We are committed to supporting the government's development goals, and are exploring ways in which we can leverage resources to ensure that policy-makers and planners can access the best global thinking on issues that confront it," Zoellick added.
During his stay in India, the bank president will visit New Delhi, Chennai and also parts of Odisha. In Odisha, he wants to see how the resource-rich state is seeking to integrate environmental issues into its development strategy.
World Bank to help fire up India’s infrastructure development