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Text of the Speech of Shri Arun Jaitley Finance Minister representing the Constituency of Bangladesh Bhutan India and Sri Lanka at the 94th Meeting of the Development Committee in Washington D.C.

News and Press Release - Dated:- 10-10-2016 - Following is the Text of the Speech of Shri Arun Jaitley, Finance Minister, representing the Constituency of Bangladesh, Bhutan, India and Sri Lanka, at the 94th Meeting of the Development Committee in Washington, DC : The global economy faces depressed economic growth. Our constituency countries have displayed resilience and growth in this challenging environment where India is likely to grow at more than its last year s growth of 7.6%, Bangladesh a .....

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r all its client segments, especially the LICs and LMICs. The LMICs should rightly remain the mainstay of World Bank Group s interventions, and therefore the proposal to significantly increase lending to LMICs, including IDA graduates, makes eminent sense. The Forward Look presents a credible policy and action plan for the World Bank Group for achieving the SDGs and its twin goals. In view of the Bank being capital constrained today, there is a need to expand the role of not only IDA, but also I .....

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which IFC needs to play in ramping up private sector s capacities in the developing countries. Increased financing measures need to be coupled with renewed efforts to find innovative solutions, active pursuance of knowledge sharing, coordinated responses with private sector, other development partners and international organisations. I share the assessment that the Bank should not only be bigger but it should also be better- more agile, efficient and less expensive to do business with. The Bank .....

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