World Bank may fund $3 bn in the next few years

He said 200 world leaders had agreed in 2000 to work towards the Millennium Development Goals (MDGs) and central theme in this was reduction in poverty by half by 2015. ‘‘The Common Minimum Programme has a similar goal, and for this, employment for the youth have to be created,’’ Wolfensohn stated in his address this evening presided over by New Delhi Chief Minister Sheila Dikshit.

Earlier in the day, the World Bank chief met Finance Minister P. Chidambaram. While asking India to check the rising fiscal deficit, the World Bank indicated over $3 billion annual financial assistance to the country in the next few years.

‘‘We are ready for a partnership at the national level to realise the goals set by the government,’’ he said after meeting the FM. The World Bank laid stress on participating in funding for infrastructure and social sector.

‘‘I don’t think that money is the way to judge it,’’ Wolfensohn said. The World Bank’s loan sanctions is expected to be about $ 2.5 billion this fiscal, higher than little over $ 1.5 billion in 2003-04. He added that India was ‘‘central’’ to all major global issues like population, environment, stability of the region and entrepreneurship.

He will meet PM Manmohan Singh and Planning Commission chief Montek Singh Ahluwalia on Thursday.