WB should work for its vision of ‘A World Free of Poverty’: Sitharaman

Finance minister Nirmala Sitharaman posited that the World Bank should continue to work for its vision of ‘A World Free of Poverty’ and seeks to achieve its mission of ‘ending extreme poverty’ and ‘promoting shared prosperity’ in a manner that is inclusive, resilent and sustainable. She was speaking at the the Development Committee Meeting of the World Bank-IMF in Washington DC on Thursday. During her intervention, Finance Minister Smt. Sitharaman suggested that the global public goods,GPG should also be brought into the focus as the third goal. Presnting the Indian scenarion, Ms Sitharaman stated that despite this year’s projected growth rate of over 6 percent for the Indian economy, we remain concerned about the global economic outlook and geopolitical environment. She shared that India’s roadmap for imparting momentum to economy is based on growth at the macro level & all-inclusive welfare for vulnerable groups, with a focus on innovative financing methods. Ms Sitharaman also presented India’s views on global mircroeconomy development, global economic challenges, infrastructure financing, customs and tax cooperation issues. The finance minister also participated in the VRICS FMs and Central Bank Governor's meeting.

She also participated in the Global Sovereign Debt Roundtable GSDR meeting along with Ms K Georgieva, MD, IMF and David Malpass, President , World Bank in Washington DC.

Union Finance Minister Smt. @nsitharaman participated in the Global Sovereign Debt Roundtable #GSDR meeting along with Ms @KGeorgieva, MD, IMF @IMFNews, and @DavidMalpassWBG President @WorldBank on the sidelines of the #SpringMeetings 2023, in Washington DC, today. (1/3) pic.twitter.com/Ouk1JJZcE4

— Ministry of Finance (@FinMinIndia) April 12, 2023

She stated that the calls to reinvigorate the World Bank present a historic opportunity to make the institution ‘fit for purpose’ to achieve the SDGs alongside addressing national as well as global development challenges, both present and future.