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High-level growth in India helps Intl economy to recover from recession: WB

World Bank has said that high level of growth in the India is helping the international economy recover from the crippling impact of recent financial turmoil.

World Bank President Robert B Zoellick said that India is a player on the global stage and its status as a rising economic power is closely connected with how the country manages the next phase of growth.

Ahead of his 4-day visit to India beginning today, Zoellick said World Bank supports India’s strategy of boosting growth, while helping the most vulnerable sections of society to seize the opportunities thrown open by an expanding economy.

According to a World Bank release, the visit is aimed at strengthening cooperation between the multilateral lender and India which it said is accelerating growth to provide better infrastructure and efficient social services to the people. Zoellick will meet Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and Planning Commission Deputy Chairman Montek Singh Ahluwalia during his visit to India.

Cooperation on global issues, including preparations for the upcoming G-20 meetings will be on agenda of his talks with India leaders.

The World Bank President will sign agreements for two new projects in the road and disaster management sectors, as well as meet private sector representatives, self-employed women’s associations and urban and water experts. He will also visit Bihar.

The Bank Group committed a record 11.1 billion dollar to India during 2009-10.

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