World Bank chief set to laud India for growth effort

World Bank President Robert Zoellick opens a four-day visit to India today where he is expected to laud the efforts by the big emerging country on its growing role in the global economy.

“India’s return to high levels of growth is helping the global economy recover from the crisis,” said Zoellick in a statement from Washington on Saturday.

“India is a player on the global stage.

“The country’s status as a rising economic power is closely connected with how it manages this next phase of growth, balancing rapid development with the environment and most importantly, the need to ensure all people have opportunity,” he said.

He said the World Bank supported India’s “strategy of boosting growth while helping the most vulnerable people be able to seize the opportunities afforded by an expanding economy.”

During his visit, Zoellick will meet government leaders, including Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee. “The discussions with the prime minister and the government will also cover cooperation on global issues, including preparations for the upcoming G-20 meetings,” Zoellick’s office said.

“The World Bank and India work closely on climate change, biodiversity including saving the wild tiger, trade, and regional integration,” it added. The World Bank boosted its support to India last year to help offset the impact of the global financial crisis. It made a record $ 11.1 billion in commitments to India in the fiscal year ending in June 2010.

AFP