Asheville, US, September 2: Union Finance Minister Nirmala Sitharaman held a series of bilateral meetings with global economic partners on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Asheville, focusing on trade, investment, infrastructure, emerging technologies and private capital mobilisation.
During her meeting with World Bank President Ajay Banga, Sitharaman discussed the continued engagement of the World Bank with India and the processing of USD 1.5 billion in Development Policy Financing. The two also discussed a larger role for the Multilateral Investment Guarantee Agency (MIGA) in developing corporate, infrastructure and municipal bond markets through guarantees and mobilisation of private capital.
According to the Ministry of Finance, Banga noted the changes in India’s infrastructure sector and discussed opportunities to use World Bank Group instruments to support India’s development plans, including MIGA’s engagement and political risk insurance for Indian companies investing overseas.
Sitharaman also met International Monetary Fund Managing Director Kristalina Georgieva to discuss the global economic outlook and India’s growth trajectory. Georgieva noted India’s economic performance, while Sitharaman called for evidence-based surveillance frameworks that take into account structural changes in emerging and developing economies.
In her meeting with Poland’s Finance Minister Andrzej Domanski, Sitharaman discussed cooperation in trade, services, defence, energy security and emerging technologies. The two sides also discussed opportunities to expand trade and investment across sectors.
Qatar’s Finance Minister Ali bin Ahmed Al Kuwari discussed trade, investment, energy, infrastructure and logistics with Sitharaman and invited her to the 11th Annual Meeting of the AIIB Board of Governors, scheduled to be held in Doha in September 2026.
Sitharaman also held discussions with Russian Finance Minister Anton Siluanov on bilateral and global economic developments, including cooperation through the New Development Bank and the Asian Infrastructure Investment Bank.
Her meeting with South Korean Deputy Prime Minister Koo Yun-cheol focused on financial cooperation, critical minerals, supply chain resilience and investment. The two sides discussed measures to expand trade and investment between India and South Korea.
The meetings formed part of India’s efforts to expand economic partnerships, attract private investment and strengthen cooperation in infrastructure, technology and financial systems.
Sitharaman is on an official nine-day visit to Canada and the United States from August 25 to September 2. She began the US leg of the visit on August 28 and attended the G20 Finance Ministers and Central Bank Governors meeting in Asheville.