India to contribute to WB facility for developing nations

Istanbul/New Delhi, Oct 5 (PTI) India will soon contribute
to a World Bank financing facility to promote development in
developing countries through exchange of expertise in areas
like poverty alleviation, information technology and targeted
subsidies.

"I am happy to announce that India will be an active
partner and will soon be making a contribution to this
(South-South Experience Exchange) Facility," Finance Minister
Pranab Mukherjee said at an event, Innovative Development:
South-South Opportunity, Sunday night ahead of the annual
IMF-World Bank meetings in Istanbul.

Last year, the World Bank Group launched South-South
Experience Exchange Facility to promote the idea that the
development sucesses in one country can pull people out of
poverty in another.

Mukherjee said while India's experience in social and
economic programmes like NAREGA, poverty alleviation, IT and
telecom sector could help other developing countries to face
and overcome developmental challenges, the country itself has
much to learn from the experiences of other nations as well in
the areas of subsidy and environmental issues.
The Finance Minister is in the Turkish city to participate
in a two-day annual IMF-World Bank meeting beginning Tuesday.
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