The contribution of International Bank of Reconstruction and Development to India'a socio-

economic development may be seen in various fields such as

1) Poverty Reduction:- The World Bank has provided financial assistance to India to tackle
poverty.

2)Renewable energy : Fossil fuels have the most debilitating impact on the socio-economic
development. Women are forced to ravel long distances to fetch wood. Emissions caused by these
fuels cause pollution, respiratory problems and thus affect the productivity of the workforce. To
mitigate these socio-economic impacts, the IRBD has supported JLNNSM

3) Sanitation: To promote construction of toilets and its usage , IRBD has extended loan to aid the
government.

However, IRBD role in hampering India's socio-economic development cannot be ignored

1) Conditionalities:- These fund come with conditionalities which may not suit the borrower
country. Many conditionalities were imposed on the Sardar Sarovar Project. As India could not fulfill
them, the funding was withdrawn.

2) Pressure from the Developed nations: the World Bank is under the grip of developed countries.
In 2008, India could not get funding for electricity distribution and transmission in Arunachal Pradesh
as China had objected to it.

3) Displacement of indigenous people : has been due to dams constructed by the funds of World
Banks's IRBD.

4) Preference for private funding : These institutions have preferred private funding to public
funding which has accentuated inequalities in India.

Though World Bank's IRBD have helped in many projects, India needs to be conscious of its
drawbacks.India is pushing for governance reforms in World Bank. Institutions like BRICS banks and
AIIB would also force it to change in order to remain relevant.