
In a Wednesday meeting with India’s Finance Minister Nirmala Sitharaman, World Bank President Ajay Banga announced the formation of a dedicated task force. Their mission: scrutinize recommendations laid out by the Independent Experts Group under India’s G20 leadership. Banga further outlined eight pressing global challenges the Bank will prioritize in the coming years, issues spanning multiple countries and demanding immediate attention.
Sitharaman expressed India’s full support for this initiative, emphasizing the need for the Bank’s Country Climate and Development Reports to align with India’s specific priorities and circumstances. She also suggested exploring a coordinated approach to project implementation, with particular focus on “Finance Plus” and “Budget Plus” elements within World Bank-funded projects.
Finally, the Finance Minister urged the Bank to champion the “Triple Agenda” recommendations – “bigger, better, and bolder” multilateral development banks (MDBs) – outlined in the G20 Experts Group report’s Volume I and II. She highlighted the Bank’s pivotal role as a reform leader, inspiring other MDBs to follow suit.