New Delhi, Nov 16 (PTI) DIPAM, which mainly handles government's disinvestment programme, on Monday signed an agreement with the World Bank for providing advisory services for asset monetization.

The Department of Investment and Public Asset Management (DIPAM) is mandated with facilitating monetization of non-core assets of government CPSEs (central public sector enterprises) under strategic disinvestment.

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"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," an official statement said.

It is expected that this project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these unused/marginally used assets which have the potential to substantially augment financial resources for further investments and growth, it added.

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The amount raised through the sale of non-core assets would form part of the disinvestment proceeds.

The government has set a target of raising Rs 2.10 lakh crore from disinvestment in the current financial year. Of this, Rs 1.20 lakh crore is to be raised through CPSE disinvestment.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)