JAIPUR: The Rajasthan Government has entered into a partnership with International Finance Corporation (IFC) to promote a better business environment for private investment, facilitate regulatory simplification, generate opportunities for small businesses and support job creation.
A memorandum of understanding was signed here over the weekend between the Rajasthan Industries Department and the IFC, which is a member of the World Bank Group, in the presence of Industries Minister Rajendra Pareek. The MoU was signed by Principal Secretary (Industries) Sunil Arora and Anil Sinha, General Manager, Advisory Services, IFC. “By bringing IFC on board as a knowledge partner we hope to draw on its global experience to help Rajasthan emerge as an attractive investment destination for private sector initiatives and bring economic growth opportunities to our people”, said Mr. Pareek. “IFC's strategy is to promote inclusive growth and development in India. With this innovative partnership with Rajasthan we hope to make a strong contribution to the State's ability to bring opportunities to those who need them most,” said Mr. Sinha. The agreement signed by IFC and the Rajasthan Government establishes a three-year partnership for identifying promising sectors for investment promotion and helping the government implement reforms that create an environment conducive for business and economic growth. India is IFC's largest exposure with about a billion dollars in new commitments annually. IFC has a strong presence in Rajasthan supporting infrastructure and financial private sector players.
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