Zoellick to seek bigger role for India at WB

Zoellick will discuss how the group can be more useful to India in meeting its growing demands. Considering the important role India is playing in the new international economic system as reflected in the recent G20 meeting,India’s contribution in helping out other countries as part of World Bank’s initiatives will also be discussed.

Zoellick will also visit Bihar and meet chief minister Nitish Kumar to review development work. He will discuss reconstruction efforts in areas hit by floods in 2008 that killed over 500 people. It will finance the Bihar Kosi Flood Recovery Project by rebuilding about 1,00,000 houses,90 bridges and 290 km rural roads. It will also sign another loan for the rural development.

Zoellick will discuss the important economic reforms and efforts needed for the swift recovery of the world economy from the global slowdown. Post the financial meltdown,leadership and cooperation from rising economic powers like India will be key to the emergence of multiple poles of growth and responsible globalisation on which the prosperity of future depends.

While talks are on to give a greater voting share to India,World Bank is working on several loans for the infrastructure sector in the country. The National Highways Authority of India (NHAI) recently signed $45-million loan agreement with the World Bank to improve operational efficiency of the body.

World bank has sanctioned loans worth Rs 13,696 crore in the current fiscal year,according to finance ministry website.