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World Bank chief to visit India
March 10, 2013, 10:33 am

India's PM Manmohan Singh has been a strong backer of the new BRICS bank [Getty Images]

India’s PM Manmohan Singh has been a strong backer of the new BRICS bank [Getty Images]

President of the World Bank Jim Yong Kim is expected to arrive in New Delhi tomorrow on a three-day trip to meet with officials and examine some of the challenges standing in the way of India’s development.

According to World Bank officials, Kim will meet with prime minister Manmohan Singh and finance minister P. Chidambaran to discuss India’s GDP and the government’s policies for poverty reduction.

“India has vast and valuable development experience, and I am eager to learn about its success stories to see how they could provide lessons for other countries,” said Kim. “I also look forward to the opportunity to find out what the World Bank Group can do to work with India in ending extreme poverty and boosting shared prosperity throughout the country.”

Meanwhile, India has been a strong proponent of the new development bank to be finalized at the upcoming fifth annual BRICS Summit in Durban, South Africa March 26-27.

Last week, the World Bank appeared to support the idea of a new development bank. World Bank chief economist Kaushik Basu had said that there is need for a BRICS bank, but warned it would be a “humongous task” to set up.

Source: Agencies

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