International Finance Corporation (IFC), an arm of the World Bank, will work jointly with Odisha government to promote private sector-led growth in the strategic sectors of agri-business and tourism, catalysing investments and creating jobs.

As per the three-year partnership agreement between IFC and Odisha government, IFC will work with the state government to streamline regulation for investment, identify areas for improvement, and tap into opportunities in the private sector. In agri-business, the project aims to facilitate investments in food processing and warehousing, storage and cold chain facilities. The project will also help the state develop as a tourism destination.

IFC is also supporting Rajasthan government in promoting private investments in sectors such as automotive, information technology, solar, and tourism.

IFC’s strategy in India is to work in priority states like Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal, and also in the northeastern states, including Sikkim, according to IFC officials.

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