World Bank should retain its focus on poor: India

Seeking efforts aimed at increasing “additional investment flows” to developing countries,India has said the need to positively impact the lives of the poor should be the “mantra” that should permeate the thinking of the World Bank.

“Be it sectoral or regional strategies; be it design of new instruments or products; be it modernisation or governance reform; the goal should,at all times be,ensuring that all these changes improve the lives and prospects of the poor,wherever they may be,” R Gopalan,Secretary at Department of Economic Affairs,said in his address to the Development Committee meeting of the World Bank.

Gopalan said while development challenges remain in large pockets,some countries are facing prospects of reduced Bank flows due to investment limits.

“Several measures are required to sustain Bank investment flows in such cases.