Lack of innovative ideas styming infrastructure: WB

Mumbai: Lack of policy changes, absence of innovative ideas and snail-paced political reforms are proving to be detrimental to infrastructure development in the SAARC region, World Bank said here today.

“There has to be sweeping policy reforms in the region in order to provide an enabling atmosphere for investment in the infrastructure sector. Lack of innovative ideas is also styming the development," Praful Patel, Regional Vice-President, South Asia, World Bank, told newspersons on the sidelines of SAARC business summit here.

Stating that the region, where India is a key country, was the least integrated one among other regions in the world, Patel said political reforms were also required to bridge the infrastructure gap.

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