World bank in India

The World Bank in India

The World Bank is one of the world’s largest sources of funding and knowledge for developing countries. India is one of our oldest members, having joined the institution at its inception in 1944. In India, the World Bank works in close partnership with the Central and State Governments. It also works with other development partners: bilateral and multilateral donor organizations, nongovernmental organizations (NGOs), the private sector, and the general public—including academics, scientists, economists, journalists, teachers, and local people involved in development projects. THE WORLD BANK’S PLAN OF ACTION IN INDIA The World Bank's work plan in Indiais spelt out in its Country Strategy (CAS). The Country Strategy for India is closely aligned with India's own development priorities and describes what kind of support and how much can be provided to the country over a period of around four years. The Country Strategy for India for 2009-2012 is aligned with the government's Eleventh Five Year Plan. It focuses on helping the country to fast-track the development of much-needed infrastructure, support the seven poorest states, and respond to the financial crisis. . The strategy was arrived at after a series of consultations with a broad range of stakeholders, including members of the government and civil society. . The strategy envisages total proposed lending of US$14 billion for 2009 - 2012. As private financing dries up in the wake of the global financial crisis, the Bank has agreed to provide an additional US$ 3 billion as part of the total financing envelope of US$ 14 billion. The strategy is implemented through lending, dialogue, analytical work, engagement with the private sector, and capacity building exercises. The Bank’s previous four-year Country Strategy for 2005-2008 focused on lending for infrastructure, human development, and improving rural livelihoods.  PROJECTS The Bank’s method of operation is not to implement “World Bank projects,” but to provide financing and advice for projects which are owned and supported by the Indian government and the people and form part of their overall development agenda. Various financing options are available based upon the type of assistance needed. It is important to note that the implementation of projects is managed by the government itself. The government designates an office, referred to as the Project Implementing Agency (PIU), which is responsible for aspects such as procurement and selection of consultants and day-to-day work, monitoring, and evaluation. The Bank’s operational policies set guidelines to ensure that projects meet its own criteria such as social and environmental standards. Projects are evaluated to capture and share lessons for similar projects in future. LENDINGAt the end of June 30, 2010, the World Bank group had 75 active projects in the country. The net commitment for these projects was about $21.4 billion. New lending in FY10 (1 July 2009- 30 June 2010) amounted to $9.3 billion. Total IBRD/IDA Commitments as on June 30, 2010 (FY10): $21.4 billion (by fiscal year, in nearest $ billion) Commitments FY05 FY06 FY07 FY08 FY09 FY10 New Lending 2.9 1.4 3.7 2.7 2.3 9.3 Total Commitments (Active Projects) 12.8 11.3 14.3 13.8 14.9 21.4 Total No. of Active Projects 64 56 67 60 61 75 STUDIES AND REPORTS The World Bank also produces studies and reports based upon its own analysis of a given issue. Topics of research come from the Bank's Country Strategy. This research is intended to provide an unbiased perspective on a range of specific development challenges faced by the country. Additional studies include reviews of economic policies (Country Economic Memoranda), fiscal spending (Public Expenditure Reviews), environmental reviews (Environmental Action Plans), and other specific topics. Further discussion of development issues is promoted through workshops and other events. These events bring together groups such as government, media, and civil society organizations to discuss how best to move forward on a given issue.