World Bank president Jim Yong Kim praised Prime Minister Narendra Modi's governance, calling it "a lesson in leadership" for him. In an interview, the leader said, "We are worried about the global economy and again and again I find myself saying that there are some bright spots. I say 'some' because I want to be optimistic, but generally I point to India as a bright spot."
He said India had dealt with the impact of Brexit creditably and expected economic growth to get better than 7.6 per cent despite the global headwinds. "There is a resilience to this economy, there is a confidence in what is happening with this government and that's leading to all the foreign direct investment growth we see," Kim said.
Meanwhile, the World Bank committed $1 billion to support the solar energy programme in India, which is decreasing its dependence on conventional energy sources to reduce greenhouse gas emissions. In a pact signed between power minister Piyush Goyal, and Kim, the multilateral funding agency will provide more than $1 billion to support India's ambitious solar initiatives through investments in generation. India has a target to generate 100,000 MW power through solar energy by 2022 and is trying to attract investments from various sources.
