India set to push for green World Bank reforms at G20

(Climate Home News, 23 Feb 2023) India is likely to propose forming an expert G20 group to look into reforms at the World Bank and to increase lending capacity of the institution for climate financing in middle and low income countries, three sources told Reuters.

The proposal is expected to be tabled at a G20 meeting this week at Nandi Hills summer retreat near India’s tech hub Bengaluru, where financial chiefs from the bloc have gathered for the first major event of India’s G20 presidency.

The development comes as World Bank President David Malpass held a discussion with Finance Minister Nirmala Sitharaman on Wednesday on addressing debt vulnerabilities, India’s finance ministry said.

“India is writing a proposal to form a group for reforms to World Bank,” one of the sources said, requesting anonymity as they are not authorised to speak to media.

India’s finance and foreign ministries and the World Bank did not immediately respond to a Reuters’ request for comment.

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Climate Home News, 23 Feb 2023: India set to push for green World Bank reforms at G20