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World Bank appreciates India’s rapid progress in ease of doing business

[vc_row][vc_column][vc_column_text]New Delhi: The President of the World Bank, Dr. Jim Yong Kim, called on the Prime Minister, Shri Narendra Modi. During the meeting, the Prime Minister expressed happiness at the World Bank’s continued support to India, especially in priority areas like Smart Cities, Ganga Rejuvenation, Skill Development, Swachh Bharat and Power for All. Dr. Kim said he was impressed by the progress made towards the ambitious targets in these programmes. The Prime Minister emphasized the importance of adequate climate change financing for countries like India which are consciously choosing to follow an environmentally sustainable path. Dr. Kim assured the Prime Minister that the World Bank would be proactive and fully support this agenda. Dr. Kim appreciated India’s rapid progress in improving the ease of doing business, especially in the area of logistics. The Prime Minister and Dr. Kim discussed a broad range of issues and possible avenues of cooperation.
The President, World Bank, Mr. Jim Yong Kim calling on the Prime Minister, Shri Narendra Modi , in New Delhi on June 30, 2016.
The President, World Bank, Mr. Jim Yong Kim calling on the Prime Minister, Shri Narendra Modi , in New Delhi on June 30, 2016.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley, the President, World Bank Group, Dr. Jim Yong Kim and the Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy, Shri Piyush Goyal at the signing ceremony of the agreement between International Solar Alliance and World Bank, in New Delhi on June 30, 2016.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley, the President, World Bank Group, Dr. Jim Yong Kim and the Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy, Shri Piyush Goyal at the signing ceremony of the agreement between International Solar Alliance and World Bank, in New Delhi 
International Solar Alliance Cell and World Bank Signs Declaration for Promoting Solar Energy On the occasion of the visit of the World Bank President to India, the Interim Administrative Cell of the International Solar Alliance (ISA Cell) and the World Bank declared their intention to promote solar energy globally. The declaration was signed & exchanged by  Shri Upendra Tripathy, Secretary, Ministry of New and Renewable Energy and Chairperson, ISA cell and Mr Onno Ruhl, India Country Director, World Bank in the presence of Shri Arun Jaitley Union Finance Minister,  Shri Piyush Goyal, Minister of State (IC) for Power, Coal and New & Renewable Energy, and Dr Jim Yung Kim, President, World Bank. Major areas identified for working jointly include:
  1. a) Developing a roadmap to mobilize financing
  2. b) Developing financing instruments including credit enhancement, reduce hedging costs/currency risk, bond raising in locally denominated currencies etc. which support solar energy development and deployment
  3. c) Supporting ISA’s plans for solar energy through technical assistance and knowledge transfer;
  4. d) Working on mobilization of concessional financing through existing or, if needed, new trust funds
  5. e) Supporting RE-INVEST events. In addition, both sides decided to work in  other areas and themes  as jointly decided. France was represented by H.E Mr Christan TESTOT, Minister Counsellor and Mr. François-Joseph Schichan, Second Counsellor (Political), French Embassy in India
The Joint Declaration by the ISA cell and the World Bank will help in accelerating mobilization of finance for solar energy, and the Bank will have a major role in mobilizing more than US $1000 billion in investments that will be needed by 2030, to meet ISA’s goals for the massive deployment of affordable solar energy.  In a short span of time ISA activities have increased significantly. Two Programmes of the ISA “Affordable finance at scale” and “Scaling solar applications for agricultural use”, have been launched. In addition, USA, UK and EU have evinced interest in developing additional programmes.  Further, Interim Administrative Cell of International Solar Alliance (ISA Cell) and the UNDP have joined hands for promoting ISA objectives in 121 prospective ISA   member countries.  This apart establishment of 24x7 knowledge centre is under way with the help of UNDP and NIC, Government of India.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley, the President, World Bank Group, Dr. Jim Yong Kim and the Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy, Shri Piyush Goyal at the signing ceremony of the agreement between International Solar Alliance and World Bank, in New Delhi on June 30, 2016.
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley, the President, World Bank Group, Dr. Jim Yong Kim and the Minister of State (Independent Charge) for Power, Coal and New and Renewable Energy, Shri Piyush Goyal at the signing ceremony of the agreement between International Solar Alliance and World Bank, in New Delhi on June 30, 2016.
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About Sanjay Trivedi

Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He is working as Media Officer in Gujarat Technological University, which has 440 colleges under its umbrella.

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