Finance Minister Arun Jaitley has called for expanding capital base of the World Bank so that it can better cater to the development needs of emerging countries like India. In a tweet, Finance ministry said that Mr. Jaitley also stressed the need for the multilateral funding institution to have more activity and more projects at a meeting he held with the Executive Directors of the World Bank in New Delhi yesterday.During the meeting he suggested that the role of the World Bank Group could be expanded in areas like education, health, agriculture, development, small-scale industry etc. India has been underlining the need for reforms in the World Bank with a view to according greater say to emerging economies in the activities of the multilateral lending agency.
News On AIR | May 20, 2016 7:38 AM
Jaitley pitches for expanding capital base for World Bank