The World Bank President Jim Yong Kim arrived in New Delhi, India on 21 July 2014 on his three-day visit. During his visit, he will meet Prime Minister of India, Narendra Modi for understanding the development priorities in India. Jim Yong Kim is scheduled to meet the Union Finance Minister, Arun Jaitley also.
Activities to Be Undertaken during Jim Yong Kim’s Visit
Jim Yong Kim will also visit the World Bank assisted project sites in Tamil Nadu in order to find out about rural-urban transformation challenges.
The International Finance Corporation, which is the private sector arm of the World Bank Group has so far mobilized 1 billion dollars offshore rupee bond program, which was aimed at providing strength to the capital markets of India as well as for attracting the foreign investments.
India is also the place for largest operations of the the International Finance Corporation (IFC), the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD).
The assistance received by India by the World Bank Group between July 2013 and June 2014 amounted to 6.4 billion dollars and this included 100 million dollars from the Clean Technology Fund, 2 billion dollars from IBRD and 3.1 billion dollars from IDA. All these resources are administers of the World Bank Group.
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