The World Bank Group 's Partnership Strategy For India

1092 WordsDec 13, 20165 Pages
The World Bank has provided large amounts of financial assistance to India for economic development. The different areas it has impacted include: the development of infrastructure such as electric power, transport, communication, irrigation projects, and the steel industry. For a long period, India was the single largest borrower from the World Bank. At present India is the third largest borrower of funds from the World Bank (Mukherjee, 2015). At current the World Bank and India are working towards a new five year plan for the country. The World Bank Group’s Partnership Strategy for India (2013-2017) will help India lay the foundations for achieving “faster, sustainable, and more inclusive growth” as outlined in the government’s 12th five year plan. The World Bank Group will support India with an integrated package of financing, advisory services, and knowledge (India Overview, 2016). A fundamental difference in this five year plan from the rest is that this plan provides a new strategy in shifting support toward low-income and special category states, where many of India’s poor and disadvantaged live. This project is also the World Bank’s first country strategy to set specific goals for reducing poverty and increasing prosperity for the poorest people. This strategy lays out a development plan that would allow India to improve its inclusiveness of the economic growth to that achieved by its best-performing states. In turn this change would cut poverty to 5.5% of the
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