FinMin rejigs

There is no change for other divisions such as capital market,economic,budget and finance.

One of the key changes is merging the FIPB with the infrastructure and investment division. It will deal with policy-related issues regarding roads,ports,shipping,power,telecom and railways but also with foreign investment proposals. It will also handle the bilateral investment promotion and protection agreements alongwith investment co-operation to set up joint ventures in foreign countries.

The fund bank division has been re-designated as the multi-lateral institutions division,which will deal with matters relating to IMF,World Bank,ADB and the African Development Bank. The Foreign Trade Division has also been re-designated as the multi-lateral relations division.

However,the bilateral co-operation division has not been given a new name even though the divisions work has been restructured. The division will deal with matters relating to the Japan International Co-operation Agency,Asean,and economic assistance from the US and Europe.