Bhubaneswar: The Government of Odisha has signed a landmark Programmatic Transaction Advisory Services Agreement with the International Finance Corporation, the private sector financing arm of the World Bank Group. The primary goal of the agreement is to dramatically strengthen the state’s Public-Private Partnership ecosystem.
The formal signing ceremony took place under the chairpersonship of Odisha Chief Secretary Anu Garg. ACS Energy Shri Vishal Dev, Principal Secretary Finance, Shri Sanjeeb Kumar Mishra and other senior officials were present.
During the event, the Chief Secretary highlighted that mobilizing private capital investments is crucial for elevating Odisha’s profile on both national and global stages, aligning directly with the state’s strategic targets under the Viksit Odisha 2036 vision. Under this new framework, the International Finance Corporation will serve as a key knowledge partner to develop a robust infrastructure framework.
Shri Shalabh Tandon, the Regional Head of Operations and Acting Regional Director for South Asia at the International Finance Corporation, emphasized that partnering with Odisha is a high-priority agenda item for the institution. He noted that the organization is fully committed to ensuring the long-term effectiveness of the collaboration.
The joint initiative focuses heavily on identifying and building a reliable pipeline of viable, investment-ready infrastructure ventures. Over the course of the next year, the International Finance Corporation will work to identify at least 20 large-scale projects. These projects will carry an estimated cumulative cost of 2 billion US dollars and will target essential priority sectors. Key focus areas for these investments include renewable energy, power transmission, logistics and transport, urban infrastructure, and e-mobility initiatives.