DIPAM inks agreement with World Bank for advisory services on asset monetization

Department of Investment and Public Asset Management (DIPAM) signed an agreement with World Bank on Monday. Under the agreement, World Bank is to provide advisory services to DIPAM for asset monetization, said Ministry of Finance in an official release.

DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of the 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 the 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 ministry further said.