Lok Sabha Question No. 1002 (UNSTARRED), answered on 2016-07-22
Subject: India's Share in World Bank
Ministry: FINANCE
Asked by: SRINIVAS KESINENI

## LOK SABHA UNSTARRED QUEST10N NO。

## loo2

## TO BE ANSWERED ON FRIDAY July22,2016/Ashadha 31,1938(Saka)

## India's sharein WOrld Bank

## OUEST10N

## 1002.SHRI KESINENI NANI:

win the Minister of FINANCE be pleased to state:

(a)Whether india has contributed any Share to the World Bank during the last threc years,if sO,thc details thereof;and

- (b)ヽvhether india has any role in the decisi9n taking bOdy ofworid Bank,if sO,the detalls thereofand ifnot,thc reasons thereoP

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ARJUN  RAM MEGHWAL)

- (a) In the last three years,  India has contributed  a paid-in capital  ofusD 95.426 Million and USD 21.60 Million for shares subscribed  in Internarionar Bank for Reconstruction  and Development  (IBRD) and International  Financial  corporation (lFC), respectively.

In addition, India has also contributed  USD 133.33  Million for International .Development  Association  (rDA) reprenishment  in the last three years. The contribution  made to IDA is also given  weightage in the shareholding for IBRD.

The details of the IBRD and IFC conrributions and IDA replenishment in last 3 years are as follows:

## IBRD Contributions

|         | General Capital lncrease (GCI)   | General Capital lncrease (GCI)      | Selective Capital lncrease (SCI)   | Selective Capital lncrease (SCI)     |
|---------|----------------------------------|-------------------------------------|------------------------------------|--------------------------------------|
|         | Nurnber of shares purchased      | Payment made for purchase of shares | Number of shares purchased         | Payment rnade for purchase of shares |
| 2013-14 | 2883                             | usD 20,867,442.30                   | 2268                               | usD 16,416,010.80                    |
| 2014-15 | 2883                             | usD 20,867,442.30                   | 2267                               | usD 16,408,772.70                    |
| 2015-16 | 2883                             | usD 20,867,442.30                   | Nil                                |                                      |

## IFC Contributions

|          | Number of shares purchased   | Payment made for purchase of shares   |
|----------|------------------------------|---------------------------------------|
| 2013-14  | 21,5 I 1                     | usD 21,511,000                        |
| 2014- 15 | 94                           | usD 94,000                            |
| 2015-16  | NIL                          | NIL                                   |

## IDA Replenishment

|          | Payment made for IDA-17 Replenishment   |
|----------|-----------------------------------------|
| 2013-14  |                                         |
| 2014-15  | USD 66.66 ⅣIinion                       |
| 2015- 16 | USE)66.67 Ⅳlinion                       |

- (b) The member countries govern the World Bank Group through the Board of Govemors and the Board of Executive Directors. These bodies take all the major decisions for the member  organizations including policy, financial  or membership issues. The Finance Minister of India is the Governor of the World Bank and the Secretary, Department of Economic Affairs is the Alternate Governor. Although all the powers for the World Bank Group are vested in the Board of Governors, they have delegated most of the powers to the Executive Directors. Accordingly, the Executive Director representing  India participates in these decision  making processes.