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The Insolvency and Bankruptcy Board of India (IBBI) has signed a Cooperation Agreement with the International Finance Corporation (IFC), a member of the World Bank Group (WBG).
The agreement will enable IFC to assist IBBI to further build the capacity of insolvency professionals, and insolvency professional agencies for the purposes of the Code.
The agreement was signed by K. R. Saji Kumar, Executive Director, IBBI and Jun Zhang, Country Manager, IFC India, in the presence of Injeti Srinivas, Secretary, Ministry of Corporate Affairs, and M. S. Sahoo, Chairperson, IBBI.
The Cooperation Agreement envisages technical assistance up to June 30, 2021 by the IFC to IBBI and covers assistance in (a) Workshops and Training for Insolvency Professionals and Officers of the IBBI; (b) Train the Trainers for Workshops for Insolvency Professionals, (c) Development of National Insolvency Programme, (d) Insolvency and valuation examination.
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