India focussed on infrastructure, skill development, says World Bank chief
Updated: Jul 24, 2014 01:38:03pm
New Delhi, Jul 23 (KNN) After his meetings with Prime Minister Narendra Modi and Finance Minister Arun Jaitley, World Bank President Jim Yong Kim has said he got an impression that India is keen on investment in infrastructure and skill development.
Kim was in India on a three-day visit and the two sides discussed several ways of working together.
"If you look at the need for infrastructure development in the developing countries, it's enormous. So any bank or any group of institution that are going to tackle the problem of infrastructure investment, to fight poverty, is welcome," he said.
Kim said from his discussions with Modi and finance minister Arun Jaitley, it was clear that they were committed to quickening India's economic growth.
"I assured them that the World Bank Group will bring to bear all possible knowledge and financing to help them in this task," he said. "They have identified infrastructure development and job-oriented skill development as the deep drivers of growth," he said.
He further said that the new government would like India to return to a growth rate of 9 per cent and that the World Bank fully supports this.
The World Bank group was ready to increase its financial support to support job-oriented skills and infrastructure development in India to USD 15 billion to USD 18 billion over the next three years, Kim said, from USD 13.4 billion in the previous three years.
On the BRICS bank, Kim said the World Bank would be very happy to provide technical assistance and knowledge services for the new institution.
Later, the Prime Minister described the meeting as “very fruitful.” “We discussed several ways of working together in the times to come,” he said.
In his Twitter account, Modi said, "Rather than dollars, we are more interested in knowledge and expertise of World Bank. Dr Kim agreed and said World Bank can be our information bank.
"We want ideas from the World Bank, not only on mass production but also on production by masses, which will benefit our workforce,” he tweeted.
“Today the world focuses on trade in goods but in future the core issue will be how to get skilled people. We need to work in this direction,” Modi said. (KNN/SD)
Kim was in India on a three-day visit and the two sides discussed several ways of working together.
"If you look at the need for infrastructure development in the developing countries, it's enormous. So any bank or any group of institution that are going to tackle the problem of infrastructure investment, to fight poverty, is welcome," he said.
Kim said from his discussions with Modi and finance minister Arun Jaitley, it was clear that they were committed to quickening India's economic growth.
"I assured them that the World Bank Group will bring to bear all possible knowledge and financing to help them in this task," he said. "They have identified infrastructure development and job-oriented skill development as the deep drivers of growth," he said.
He further said that the new government would like India to return to a growth rate of 9 per cent and that the World Bank fully supports this.
The World Bank group was ready to increase its financial support to support job-oriented skills and infrastructure development in India to USD 15 billion to USD 18 billion over the next three years, Kim said, from USD 13.4 billion in the previous three years.
On the BRICS bank, Kim said the World Bank would be very happy to provide technical assistance and knowledge services for the new institution.
Later, the Prime Minister described the meeting as “very fruitful.” “We discussed several ways of working together in the times to come,” he said.
In his Twitter account, Modi said, "Rather than dollars, we are more interested in knowledge and expertise of World Bank. Dr Kim agreed and said World Bank can be our information bank.
"We want ideas from the World Bank, not only on mass production but also on production by masses, which will benefit our workforce,” he tweeted.
“Today the world focuses on trade in goods but in future the core issue will be how to get skilled people. We need to work in this direction,” Modi said. (KNN/SD)
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