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DIPAM signs agreement with World Bank for advisory services on Asset Monetization
New Delhi, November 16, 2020
The Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance signed an agreement with the World Bank here today.
Under the agreement, the World Bank will provide advisory services to DIPAM for asset monetization, an official press release said.
DIPAM is mandated with facilitating monetization of non-core assets of government Central Public Sector Enterprises (CPSEs) under strategic disinvestment or closure and enemy property of value of Rs 100 crore and above.
DIPAM has a framework for monetizing non-core assets. The World Bank advisory project, approved by the Finance Minister, is aimed at analyzing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting development of operational guidelines and capacity building for their implementation.
"It is expected that this project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these un-used/ marginally used assets which has the potential to substantially augment financial resources for further investments and growth," the release added.