Sunday, May 22, 2022

Sitharaman participates in 105th meeting of Development Committee Plenary

Union Minister of Finance & Corporate Affairs Nirmala Sitharaman participated in the 105th Meeting of the Development Committee Plenary in Washington DC on Saturday

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New Delhi: Union Minister of Finance & Corporate Affairs Nirmala Sitharaman participated in the 105th Meeting of the Development Committee Plenary in Washington DC on Saturday. The items on the agenda included digitalisation & development, making debt work for development and macroeconomic stability and World Bank Group’s Response to Global Impacts of the War in Ukraine: A Proposed Roadmap.

In her intervention at this session, the Finance Minister stated that India’s economic growth in the current year is robust and the highest among all large economies and reflects India’s resilience and strong recovery.

Sitharaman stated that India faced the COVID-19 pandemic crisis with great resilience and made remarkable progress in vaccination and administered more than 1.85 billion COVID-19 vaccine doses.

The Finance Minister underlined that India voluntarily offered COVID Vaccine Intelligence Network (CoVIN) platform to all countries and stands willing to provide assistance for other public-goods platforms recognising the importance of replication of proven and scalable digital platforms.

The Finance Minister drew the attention of distinguished gatherings in the meeting to the unprecedented situation in Sri Lanka and hoped for decisive relief to Sri Lanka so that they come out of the crisis.

Apart from this, Sitharaman and World Bank Group President David Malpass met in Washington to discuss various issues, including India’s continued recovery from the COVID-19 pandemic; the impact of the Russia-Ukraine conflict on the world economy and India in particular; the economy and role of the WBG; Single Borrower Limit and exploring the possibility of Guarantees from other nations, India’s G20 Presidency and World Bank’s leadership in India after CD’s departure.

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