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Text of the Union Finance Minister Shri Arun Jaitley’s Speech at the Development Committee of the World Bank in Washington D.C.

News and Press Release - Dated:- 18-4-2016 - Following is the Text of the Union Finance Minister Shri Arun Jaitley s Speech at the Development Committee of the World Bank in Washington D.C. where the Finance Minister spoke about the role of World Ban .....

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le East and North Africa (MENA) region and Sub-Saharan Region (SSR) and the fragility in many other countries have the potential to increase the concentration of poverty in these regions. The World Bank Group, therefore, needs to extend financial res .....

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IDA to provide concessional finance to both low-income countries and middle income countries. 2. Moving to the Dynamic Formula update, it is heartening to note that the Shareholding reforms agenda has moved forward. We discussed Forward Look during L .....

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Bank Group to expand its annual lending to 100 billion dollars. For doing so, both IBRD and the IFC, would need General Capital Increase (GCI). These two institutions would also need large Selective Capital Increase (SCI) to reflect the increasing we .....

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s. We must accept that the time has come for raising partnership of DTCs in the IBRD and IFC to 50%. This would require that economic weight captured by GDP must remain the primary factor in the formula, with larger share of PPP based GDP of not less .....

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weight of not more than 10% is given to IDA contributions in the dynamic formula. Such a weight should also recognize only recent contributions to act as rightful incentive for the emerging countries to contribute in IDA and should also recognize mu .....

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