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10/15/2021 | Press release | Distributed by Public on 10/15/2021 16:52

Readout from World Bank Group President David Malpass’s Meeting with Nirmala Sitharaman, Minister of Finance and Corporate Affairs, India

WASHINGTON, October 15, 2021 - Today, World Bank Group President David Malpass met with Nirmala Sitharaman, Minister of Finance and Corporate Affairs of the Republic of India.

President Malpass congratulated Minister Sitharaman on India's COVID-19 vaccination campaign and thanked Minister Sitharaman for India's international role in vaccine production and distribution. President Malpass reaffirmed the World Bank's strong commitment to India across all World Bank Group entities including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

President Malpass and Minister Sitharaman also discussed India's efforts on climate change action, emphasizing the need for scaling up climate finance for impactful projects in line with Nationally Determined Contributions (NDCs) and development goals.

President Malpass expressed his appreciation for India's historical support for IDA and reiterated to Minister Sitharaman the need for a robust IDA20 replenishment. President Malpass also complimented India's efforts toward financial reform and offered the World Bank to host round table discussions and provide operational support.