NEW DELHI: The World Bank Group and India on Friday announced a new Country Partnership Framework (CPF), envisaging USD 8-10 billion in annual financing over the next five years to help accelerate India’s next phase of growth and support its vision of becoming a developed economy.
The Union Finance Minister welcomed the new Country Partnership Framework (CPF) with the World Bank Group, which is fully aligned with India’s Viksit Bharat vision.
The CPF focuses on leveraging public funds with private capital, creating more jobs across rural and urban India, and enriching projects with the World Bank Group’s global knowledge, Finance Minister Nirmala Sitharaman said after the World Bank team led by President Ajay Banga called on her.
Both leaders also discussed ways to deepen India-World Bank cooperation in support of India’s long-term development vision of Viksit Bharat, the finance ministry said in a post on X.
“Leveraging public funds with private capital, creating more jobs across rural and urban India, and enriching projects with the Bank Group’s global knowledge will be key to achieving sustainable impact at both speed and scale,” she said.
The Finance Minister underlined the importance of a development partnership that goes beyond financing, and includes knowledge sharing, technical assistance, and exchange of global best practices.