Multilateral Institutions Division

(Updated on 04th May, 2012)

Workshop on Role of Multilaterals in addressing Infrastructure Development Challenges in India at Chennai on April 4-5, 2012

Minimum Counterpart funding for World Bank and ADB Assisted Projects(908 KB)

World Bank assisted Mizoram State Roads Project(812 KB)

World Bank assisted Karnataka Watershed Development Project(1 MB)

World Bank assisted Assam Agriculture Competitiveness Project(1 MB)

World Bank assisted State Health Projects in Karnataka, Rajasthan and Tamil Nadu(920 KB)

World Bank assisted Tamil Nadu Roads Sector Project(4 MB)

Finance - Plus criteria for selection of projects to be posed to the World Bank, Asian Development Bank and the IFAD(318 KB)

DC Statement

Annual Plenary Statement

The Government of India accesses financial assistance in the form of loans/ credits/ grants from various multilateral agencies. The World Bank and the Asian Development Bank are leading multilateral institutions for availing external assistance by India. Department of Economic Affairs (DEA), Ministry of Finance is mandated to access, negotiate and coordinate foreign loans/ credits/ grants for the economic development of the country. The authority of DEA as the administrative focal point for taking decisions in respect of all dealings with external funding agencies, including, contact and approval for all external aid, is derived from the Allocation of Business Rules, 1961 of the Government of India.

Para 10 of the Second Schedule to the Government of India (Allocation of Business) Rules, 1961, specifies that the Department of Economic Affairs shall deal with "All matters relating to :-

1. loans, credits and grants from foreign countries, special agencies, non-governmental foundations agencies and voluntary bodies;
2. loans and credits and grants from multilateral agencies;
3. withdrawals and borrowings from International Monetary Fund;
4. policy for private sector financing from International Finance Corporation."

The Multilateral Institutions Division of Department of Economic Affairs has nine sections (FB-1 to FB-8 and ADB-1& ADB-2). The multilateral institutions dealt by this division are:

• International Monetary Fund (IMF)
• World Bank Group (IBRD, IDA, IFC, MIGA, ICSID)
• International Fund for Agricultural Development (IFAD)
• Asian Development Bank (ADB)
• Global Environment Facility (GEF)

The officers posted in the division, up to the level of Under Secretary and their contact details are as under:

International Monetary Fund (IMF)

http://www.imf.org/external/country/ind/index.htm

Introduction:

• India is a founder member of the International Monetary Fund. It is represented at the IMF by an Executive Director, currently Shri Arvind Virmani, who also represents three other countries, viz. Bangladesh, Sri Lanka and Bhutan.
• The International Monetary Fund (IMF) was established along with the International Bank for Reconstruction and Development (also known as World Bank) at the Conference of 44 nations held at Bretton Woods, New Hampshire, USA in July 1944. It was created to promote international monetary cooperation; to facilitate the expansion and balanced growth of international trade; to promote exchange stability; to assist in the establishment of a multilateral system of payments; to make its general resources temporarily available to its members experiencing balance of payments difficulties under adequate safeguards; and to shorten the duration and lessen the degree of disequilibria in the international balances of payments of members.
• The Articles of Agreement of IMF came into force on December 27, 1945. IMF is the principal International Monetary Institution established to promote a cooperative and stable global monetary framework. At present, 187 nations are members of the IMF. Since the IMF was established, its purposes have remained unchanged but its operations - which involve surveillance, financial assistance and technical assistance - have developed to meet the changing needs of its member countries in an evolving world economy.