New Delhi, July 31: The government on Wednesday said the multilateral financial institutions like the World Bank should come forward in supporting its initiatives in capacity building and infrastructure development. "The role of the mulilateral financial institutions like the World Bank extend to generic processes to be developed by professional institutions at the instance of the Central Ministries," Prodipto Ghosh, Additional Secretary, Department of Economic Affairs, Ministry of Finance, said.

Speaking at a workshop on Improving India's Investment Climate, Ghosh said the Government Committee on Project Cycle and Regulatory Framework on 'Upstream' issues had in its report submitted that the issue of cost and time overruns require serious attention and incomplete project preparation is a major cause in this regard.
He said the Union Finance Ministry, in keeping with the committee's recommendations, issued orders saying all public projects must follow the revised project cycle and DPR requirements. Bureau Report