New Delhi: World Bank President James D Wolfensohn today (Nov 19, 2004) called on Prime Minister Manmohan Singh at his residence as he wrapped up his 3-day visit to India.

World Bank Country Director Michael Carter, India's Executive Director to the Bank C M Vasudev and Economic Affairs Secretary Rakesh Mohan were also present at the meeting that lasted for more than half-an-hour.

Singh is understood to have apprised Wolfensohn of the economic scenario in India and the need for World Bank support in infrastructure and social sectors.

The meeting assumes significance in the wake of UPA (United Progressive Alliance) Government's thrust on infrastructure sectors for spurring growth and the need for stepping up multilateral funding.

Wolfensohn had met President A P J Abdul Kalam yesterday (Nov 18, 2004) and Finance Minister P Chidambaram on Wednesday (Nov 17, 2004). He had also met Planning Commission Deputy Chairman Montek Singh Ahluwalia yesterday (Nov 18, 2004).

During the meeting in the Planning Commission, senior officials of the Ministries of Power, Railways, Roads and Water Resources made detailed presentations before the WB chief and projected the funding requirements from the bank totalling $ 19 billion over the medium to long term in their respective sectors.

Although Wolfensohn said that the World Bank was prepared to extend $ 9 billion in the next three years or $ 3 billion annually, a senior Government official said that the requirement was higher - at least $ 4 billion annually.