World Bank President David Malpass hails India for successful COVID vaccination drive

World Bank President David Malpass on Saturday greeted India on a successful vaccination drive against the COVID pandemic during his meeting with Finance Minister Nirmala Sitharaman in the United States. Malpass thanked the Indian Finance Minister for the country's global role in the production and distribution of the COVID vaccine.

Malpass reiterated the international financial institution's strong commitment to India across all World Bank entities, including the International Finance Corporation and the Multilateral Investment Guarantee Agency.

Sitharaman, Malpass discuss India's action on climate change

A World Bank statement maintained that both Sitharaman and Malpass held talks on the efforts taken by India on climate change. Both emphasized the need for scaling up climate finance for achieving effective and impactful developments projects in line with Nationally Determined Contributions and development goals, it stated. 

"Malpass congratulated Sitharaman on India's COVID-19 vaccination campaign and thanked her for India's international role in vaccine production and distribution," the statement added.

India, one of the world's largest manufacturers of COVID vaccines had put to halt the exports of COVID vaccines in April to lay focus on administering vaccines on its own population following a sudden spike in the count of infections. The Union Health Minister Mansukh Mandaviya had last month announced that India would resume the export of vaccines as the pandemic situation in the country was under control. 

Malpass hails India's support for IDA20 replenishment

"President Malpass also expressed his appreciation for India's historical support for the International Development Association and reiterated to Sitharaman the need for a robust IDA20 replenishment," the World Bank statement said.

The World Bank had launched a replenishment process of the International Development Association (IDA), using its fund for the world’s poorest countries, aiming to support countries in their recovery from the COVID crisis and transition to green, resilient, and inclusive development. The IDA20 replenishment will conclude in December 2021 with a policy and financial package to support 74 countries between July 2022 and June 2025. 

"Malpass also complimented India's efforts towards financial reforms and offered the World Bank to host round table discussions and provide operational support," the statement added. 

Inputs: PTI

Image: PTI/AP/PIXABAY