In a bid to understand the priorities of the Uttarakhand Government regarding financial sector development, including state financial infrastructure and institutional capacity, a World Bank team is visiting the state for six days starting from May 8. Disclosing this, the principal secretary, rural development and medium, small and micro enterprises (MSME) Manisha Panwar said on Friday that the WB team would comprise people connected with the
finance and markets global practice of the World Bank. “F&M GP helps the countries and sub-national Governments build deep, diversified, inclusive, efficient and stable financial systems that are essential to promote economic growth and to reduce poverty while increasing shared prosperity,” she said.
She further said that a key pillar of the Bank’s country partnership strategy for India, it works with the low income states (lIS) where 62 percent of the poor reside.
“F&M GP would like to explore possible interests in the areas of financial sector strengthening, credit infrastructure, and financial inclusion, in particular,
with regard to the SC and ST population, women and youth, MSMEs and development finance structured around knowledge, lending and convening services,” she said.
Chief secretary S Ramaswamy said that the new initiatives have been started for economic development and improving financial structure in the state in sync with the instructions of the chief minister.
He informed that World Bank would emphasize on financial and lending institutions, financial inclusion of women and youths especially along with the present potentials for MSME development.
The World Bank team will comprise senior f
inancial sector specialists like Girish Nair, CP Mohan, Amit Arora and Meghna Raghunath.