The World Bank Group on Friday announced a new partnership with the Government of India to support large-scale job creation across urban and rural areas, committing annual financing of $8–10 billion over the next five years. This marks a significant increase from the previous country framework, which allocated $6–7 billion per year between FY18 and December 2025.
The new plan, effective from the start of 2026, focuses on sectors with high employment potential, including infrastructure and energy, agribusiness, healthcare, tourism, and value-added manufacturing. According to the World Bank, the objective is to generate sustainable and inclusive employment while strengthening India’s long-term growth prospects.
Finance Minister Nirmala Sitharaman said the partnership aligns with India’s “Viksit Bharat” vision of becoming a developed nation by 2047. She noted that leveraging public funding with private capital and drawing on the Bank’s global expertise would help create jobs at scale and deliver lasting impact across the economy.
The funding will be channelled through ongoing schemes such as the Pradhan Mantri Skilling and Employability programme, the Maharashtra Resilient Agriculture Project, the Kerala Health Systems Improvement Programme, and initiatives to expand electric mobility.
