World Bank chief arrives in India for three-day visit

World Bank chief Jim Yong Kim is arriving in India on Monday for a three-day visit during which he is scheduled to meet Prime Minister Narendra Modi and Finance Minister Arun Jaitley.

"The historic mandate from the people of India represents a tremendous opportunity to unlock India's growth potential and take advantage of its immense demographic dividend. I look forward to meeting Prime Minister Modi and Finance Minister Jaitley to understand their development priorities, and determine how the financial and knowledge resources of the World Bank Group can be best allocated to support them," the World Bank president said in a pre-departure statement in the United States on Sunday.

This is Kim's first visit since the Bharatiya Janata Party came in power after the general elections in May this year.

Moreover, his visit comes after the BRICS (Brazil, Russia, India, China and South Africa) nations decided to form a New Development Bank as their answer to the World Bank and International Monetary Fund. Endi