Finance Minister takes part in the 114th Development Committee Plenary on private capital and jobs
16 October 2026
Union Finance and Corporate Affairs Minister Nirmala Sitharaman participated as Governor of the World Bank in the 114th meeting of the Development Committee Plenary in Bangkok, Thailand.
The agenda of the meeting was Private Capital Mobilisation and Jobs.
India's intervention said sustainable job creation needs macroeconomic stability, efficient infrastructure, simple and certain regulations and broad-based access to finance and skills.
It called for stronger collaboration among IBRD, IFC and MIGA and faster operationalisation of the World Bank Group Guarantee Platform.
It said competitive pricing, local currency financing and lower transaction costs must stay at the core of the Bank's middle-income strategy.
India also restated its longstanding concerns about the Worldwide Governance Indicators.
In plain words
MIGA Multilateral Investment Guarantee Agency — The World Bank Group arm that insures investments against political risk.
IBRD International Bank for Reconstruction and Development — The original lending arm of the World Bank Group.