New Delhi– The Department of Investment and Public Asset Management (DIPAM) on Monday signed an agreement with the World Bank to get advisory services for its asset monetisation plan.

Disinvestment department DIPAM is mandated with facilitating monetisation of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of value of Rs 100 crore and above.

The World Bank advisory project, approved by the Finance Minister, is aimed at analysing public asset monetisation 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 monetisation process and help unlock the value of these unused/marginally used assets which has the potential to substantially augment financial resources for further investments and growth. (IANS)