Sitharaman Meets Ajay Banga to Deepen India-World Bank Ties

Finance Minister Nirmala Sitharaman met World Bank President Ajay Banga to discuss deeper cooperation and private-capital mobilisation. Talks focused on development financing, investment opportunities and strengthening support for India’s growth priorities.

Finance Minister Nirmala Sitharaman met World Bank President Ajay Banga to discuss ways to deepen cooperation between India and the World Bank, with a focus on mobilising private capital and supporting development priorities.

The discussions covered opportunities to strengthen the World Bank’s partnership with India and increase financing for projects that can support infrastructure, sustainable development, job creation and economic growth. A key focus was the need to bring greater amounts of private capital into development projects.

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Sitharaman highlighted India’s efforts to create an environment that can attract private investment and long-term capital. Greater collaboration with multilateral development institutions could help unlock additional financing for large-scale projects while supporting India’s development objectives.

The meeting also reflects the World Bank’s growing emphasis on mobilising private sector finance for development. Under Banga’s leadership, the institution has been working to increase its capacity to support developing economies by combining public resources with private investment.

For India, increased mobilisation of private capital can be particularly important for sectors requiring substantial long-term investment, including infrastructure, renewable energy, urban development, healthcare and digital infrastructure.

The engagement also provided an opportunity to discuss India’s role in the global development agenda. As one of the world’s fastest-growing major economies, India is seeking stronger partnerships with international financial institutions to support domestic development while also sharing its experience and solutions with other developing countries.

The World Bank remains an important development partner for India, supporting projects across areas such as transport, energy, water, health, education and social protection.

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The meeting between Sitharaman and Banga underscores the shared interest in strengthening India-World Bank cooperation and developing innovative financing mechanisms. Greater private-capital mobilisation could help expand the scale and impact of development investments while reducing dependence on traditional public financing.

The discussions therefore signal continued efforts to build a deeper partnership focused on indian investment, development finance and sustainable economic growth.