World Bank to Ramp Up Support for India's Development Goals

World Bank's financial support to India is set to increase in the short to medium term to assist in fulfilling the country's development objectives, as stated by Country Director Auguste Tano Kouame. As India progresses, the World Bank's role will shift from financing to providing knowledge input.

The World Bank is gearing up to boost its financial assistance to India in the short to medium term as part of its ongoing commitment to support the country's development goals, announced Auguste Tano Kouame, the bank's Country Director, during an address on Tuesday.

India remains the World Bank's largest client, a position it hopes to maintain even as India transitions into an upper middle-income and developed nation, necessitating less sovereign financing and more knowledge inputs, Kouame explained.

Investment in India's private sector is expected to rise as industries take a leading role in development. In Madhya Pradesh, the focus is on renewable energy and urban infrastructure improvement, alongside skills and nutrition, reflecting the state's strategic priorities discussed with local leaders.

(With inputs from agencies.)