World Bank India Head Meets Fadnavis, Affirms Commitment to Expanding Projects in Maharashtra

The World Bank’s India head, Auguste Tano Kouame, met Maharashtra CM Devendra Fadnavis, discussing plans to expand commitments in agriculture, urban development, water, and healthcare sectors.

World Bank India Head Meets Fadnavis, Affirms Commitment to Expanding Projects in Maharashtra

Mumbai – Auguste Tano Kouame, the World Bank’s Country Head for India, met Maharashtra Chief Minister Devendra Fadnavis on Tuesday to discuss expanding the multilateral lender’s commitments to the state. Kouame revealed that the World Bank’s current portfolio in Maharashtra stands at USD 600 million, spanning a variety of sectors, including agriculture, skills development, and infrastructure.

During the meeting, both sides discussed several new initiatives, with a focus on making urban spaces more livable, efficient, and sustainable. Kouame emphasized the Bank’s interest in bolstering commitments in Maharashtra in the coming years, highlighting potential projects in sectors like water, sanitation, efficient urban local bodies, and transportation infrastructure.

Key Areas for Future Collaboration

The World Bank is particularly keen to support Maharashtra’s urban development, including large-scale programs to improve infrastructure and make cities more resilient. Another focus is coastline development, ensuring that local communities can build livelihoods without damaging the state’s natural diversity.

Agriculture also remains a central focus, with the World Bank exploring follow-on investments to boost agricultural productivity. Additionally, the discussions touched on flood resilience for cities and districts, as well as promoting healthcare innovation and quality across Maharashtra.

Support for Maharashtra’s Economic Ambitions

Kouame also addressed Maharashtra’s ambitious goal of reaching a Gross State Domestic Product (GSDP) of USD 1 trillion. The World Bank is exploring ways to help the state achieve this target, with discussions on innovative financial models and sustainable development practices.

Impact of COVID-19 on Portfolio Size

Kouame acknowledged that the current portfolio size was lower than historical averages, partly due to the challenges posed by the COVID-19 pandemic and shifting priorities. Despite this, the World Bank’s commitment to supporting Maharashtra remains strong, and Kouame reiterated that there are numerous areas where the state can partner with the Bank.

Focus on Global Best Practices and Innovation

The World Bank’s approach goes beyond just financial support. Kouame stressed that the Bank aims to bring global best practices and innovative solutions to Maharashtra, contributing to the state’s long-term development goals.

Maharashtra’s Fiscal Landscape

Regarding the state’s finances and its social welfare schemes, Kouame declined to comment on concerns related to fiscal profligacy, saying that the World Bank would wait for the Maharashtra government’s budget presentation next month before offering any analysis.

Also read: Govt May Unveil New Income Tax Bill on Feb 6, Proposing Major Reforms

Last Updated on: Wednesday, February 5, 2025 10:41 am by Admin | Published by: The Statesman India Team on Wednesday, February 5, 2025 10:41 am | News Categories: Business

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