Ajay Banga began his five-year term as World Bank chief in June 2023 (File).
The World Bank on Friday distanced itself from speculation that it will "fix" decades of political and military tension between India and Pakistan. A message from World Bank chief Ajay Banga, shared by the Indian government, said, "We have no role to play beyond (that of) a facilitator."
"There is a lot of speculation in the media about how the World Bank will step in and fix the problem... but it is all bunk. The World Bank's role is merely as a facilitator," Mr Banga said.
Mr Banga met Prime Minister Narendra Modi in Delhi on Thursday.
The timing of the meeting - a day after India's Operation Sindoor wiped out nine terror camps in Pakistan, and even as India was repulsing Pak missile and drone attacks - raised eyebrows.
However, a government statement later clarified Mr Banga was in the country over investment opportunities in Uttar Pradesh, a BJP stronghold that will hold an Assembly election in 2027.
His schedule includes talks with UP Chief Minister Yogi Adityanath.
Nevertheless, Mr Banga's visit to India at this time led to talk New Delhi might persuade the global financial body to turn the screws on Pakistan's already faltering economy.
The World Bank's message Friday responded to that talk, and also to speculation it may broker a deal between New Delhi and Islamabad over the latter's suspension of the Indus Waters Treaty.
Back in 1960 the World Bank had intervened in the long-running India-Pak dispute over sharing of waters from the Indus river system, and helped the two nations work out and sign the treaty.
NDTV Explains | Story Of Indus Waters Treaty, Partition, Planning, Pak Impact
It took nine years - of consultations between engineers from each country and the World Bank, and for political machinations to be overcome - before the treaty was signed.
Fast-forward 65 years and an agreement that stood through three India-Pak wars and multiple skirmishes was suspended by India following the horrific April 22 Pahalgam terror attack.
The IWT is critical for Pakistan as the 135 million acre feet of water from the Indus, Ravi, and Jhelum - the 'western' rivers allotted to Pak - supply nearly 80 per cent of its farms.
India's suspension of the treaty was slammed as "an act of war" by Pakistan.
On Thursday, however, Foreign Secretary Vikram Misri asserted India's right to put the IWT on hold, pointing out it had been signed decades ago "in a spirit of goodwill and friendship" absent today.
READ | "Mark Those Words": India's Sharp Response To Pak On Indus Treaty
"If you see (closely), the preamble of the treaty itself states that the treaty was concluded in a spirit of goodwill and friendship. Mark those words... It is India's patience and tolerance that despite 65 years of attacks and provocations, we have been adhering to the treaty," he said.
"The fact is there have been fundamental changes to the circumstances in which the treaty was concluded," he said, insisting there is now a need to "reassess the obligations under that treaty".
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