Finance Minister Nirmala Sitharaman on Friday met International Finance Corporation (IFC) Managing Director Makhtar Diop and discussed need for reforms in the international financial system. IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets.
“Mr. @Diop_IFC discussed @IFC_org plans in India, focusing on capacity building for urban local bodies, developing bankable projects, and improving municipal creditworthiness,” the finance ministry said in a post on X.
Diop also mentioned IFC’s plans to focus on the agriculture sector, it said.
They discussed the need for reforms in the international financial system and the way forward in this direction, it added.
India is IFC’s largest client globally, reflecting the strength of India’s economy and the potential of its thriving private sector.