102nd World Bank Development Committee Meeting Held – Key Highlights

102nd World Bank Development Committee Meeting Held – Key Highlights. 102nd World Bank Development Committee Plenary Meeting held virtually. Due to COVID19 pandemic the meeting was conducted through video conferencing. Indian Side was represented by Union Finance Minister Nirmala Sitharaman.

Highlights:

  • The World Bank shareholders in 2018 approved a dollar 13 billion capital increase that mandated the bank wind down lending to wealthier middle-income countries
  • World Bank Group has committed 45 billion dollar for COVID-19 response.
  • FM Mrs, Sitharaman shared that the Government has announced the first stimulus of 23 billion dollar to provide direct cash transfers and food security measures to the poor.
  • She also mentioned that the Government has committed 2.03 Billion dollar for strengthening health infrastructure in the wake of COVID-19 pandemic.
  • About World Bank Development Committee:
  • The Development Committee, made up of 25 finance ministers and central bank governors representing World Bank and IMF major shareholding countries.

About World Bank:

  • Headquarters: Washington, D.C., United States
  • President: David Malpass

Related Questions:

  • According to the World Bank, India’s economy to contract by what per cent in fiscal year 2020-21? = 3.2 percent
  • World Bank forecast India growth for FY21 at what percent? – 1.5-2.8%
  • Headquarters of World Bank located at – Washington, D.C., United States
  • Biennial Poverty and Shared Prosperity report is released by- World Bank
  • What is the Indian rank in ‘Ease of Doing Business’ 2020 as per World Bank? – 63
  • Human Capital Index is released by which capital institution? – World Bank

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