The Hindu Business Line : World Bank President coming tomorrow

THE World Bank President, Mr James D. Wolfensohn, will visit India from November 17-18, in response to an invitation from the Union Finance Minister, Mr P.Chidambaram. This is his third visit to India since 1996.

During his two-day stay here, he will tour development projects focused on education, rural development and health in Delhi and Uttar Pradesh and will meet with Government leaders, representatives of civil society, business people, youth groups and community leaders in New Delhi.

Mr Wolfensohn will also deliver an address entitled India: Opportunity and challenge in a globalised world at the Teen Murti Auditorium here on November 18, a World Bank release from its India Office said.

"It has been four years since I last visited India — but I have been closely following the progress the country has made. I am eager to see for myself the gains made, and discuss with the Government how the Bank can best support overcoming the challenges that remain. India's development success will play a critical role in attaining the Millennium Development Goal of halving global poverty by 2015,'' Mr Wolfensohn said in Washington ahead of his visit to New Delhi.

His visit comes at a time when the Indian Government has madescaled-up investment in infrastructure and rural development its key priorities. The World Bank's new Country Strategy for India reflects this commitment.

The 2005-2008 India Country Strategy of the World Bank Group's roadmap for its work in India is closely aligned with the Government of India's poverty reduction strategy, which emphasises growth with social justice and equity.

The World Bank's strategy provides the framework for analytical work, lending operations and dialogue with other groups focused on India's development goals. It was discussed in August 2004 by the Bank's Board of Executive Directors.

This document outlines the World Bank Group's development priorities and indicates the type and level of assistance to be provided. It is partnering with India to reduce poverty and improve living standards to all citizens. An important shift is the use of new approaches, including co-financing with other development partners under common arrangements for national programmes in the areas most critical to meeting the Millennium Development Goals (MDGs). The recently approved $500-million credit to fund India's Elementary Education Program is an example of such efforts.

The new strategy envisages doubling of the World Bank/IDA lending from recent levels to about $3 billion a year over the four years 2004/05-2007/08. It focuses on three main areas for support: (i) Infrastructure: roads, transport, power, water supply and sanitation, irrigation, and urban development to underpin both accelerated growth and improved service delivery; (ii) Human development: education, health, social protection/priorities to support specific MDGs; and (iii) Rural livelihoods: with an emphasis on community-driven approaches.

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