Lending A Hand With World Bank
Anshula Kant,MD & Group CFO
Unlike the International Monetary Fund which oversees the stability of the world’s monetary system, the World Bank’s goal is to reduce poverty by offering financial aid to middle-income and low-income countries. Under the stewardship of Anshula Kant, MD and Group CFO, the World Bank has committed $20.76 billion in 103 projects across 885 locations in India. The biggest loan by the Bank this year was the $1 billion assistance to support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission. The fund will be used to improve public healthcare infrastructure across the country, besides prioritising health service delivery in seven states — Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh. While $500 million has been earmarked under the Public Health Systems for Pandemic Preparedness Program, half a billion will go towards Enhanced Health Service Delivery Program. Kant also has the additional task of raising funds for the global financial cooperative — the bank raises about $50 billion each year for lending to middle-income countries through AAA bonds. Tasked with a dual role, Kant has a tough mission on hand, but the outcome is all set to be a positive one.