Monday, September 18 2006 12:29 Hrs (IST) - World Time -

Singapore: India today (Sept 18, 2006) lashed out at the World Bank for over-emphasis on issues of governance and corruption, which it said cannot replace the core of the development agenda, crucial for the uplift of millions of poor and downtrodden in developing and emerging economies.

"We believe that the issues of governance and corruption are vital, but they cannot replace the core of the development agenda, which is the support needed by millions of poor and downtrodden," Indian Finance Minister P Chidambaram said in his oral intervention at the policy-making development committee meeting of the World Bank here.

The Development committee at the annual World Bank-IMF meeting here has taken up strengthening bank group engagement on governance and anti-corruption as the theme for this year's meeting, which began with an address by the World Bank President Paul Wolfowitz who said poor governance and corruption undermined development.