Finance Minister Asks World Bank To Explore Collaborative Approach In Water Management Efforts

Finance Minister Nirmala Sitharaman on Wednesday asked the World Bank to explore a collaborative and holistic approach in water management with a special focus on restoration of water bodies.

During her meeting with the World Bank Managing Director (Operations) Anna Bjerde, and MD and CFO Anshula Kant here, Sitharaman discussed matters related to the multilateral funding agency's engagement with India and other issues.

"FM Smt.@ nsitharaman stated that @WorldBank should explore comprehensive, collaborative and holistic approach in water management with special emphasis to restoration and rehabilitation of lakes and hydroelectric power," the finance ministry said in a post on X.

During the meeting, Sitharaman said the World Bank should lead in taking forward evolution exercise and recommendations of the G20 IEG done under the G20 India Presidency on strengthening Multilateral Development Banks as other MDBs look up to the World Bank for such reform initiatives.

Bjerde was appreciative of India's G20 Presidency and the work done on MDB reforms.

The finance minister also mentioned about Infrastructure Investment Trusts and how the World Bank may explore its possibility in infrastructure sectors such as roadways.

Further, she emphasised the need for the World Bank to work with NaBFID and NIIF in taking forward projects in India.