India, June 23 -- The World Bank's Board of Executive Directors has approved $1.5 billion in financing to support India's structural reforms aimed at boosting private sector-led job creation and accelerating economic growth.

The financing, provided under the Boosting Job Creation in the Private Sector Development Policy Financing (DPF) Operation, is expected to support reforms that can create employment opportunities for 11 million young Indians entering the workforce over the next two decades.

The programme builds on reforms undertaken in recent years, including tax simplification, trade integration, regulatory changes, and measures to improve the business environment, the World Bank said in a statement on Monday.

The DPF supports ini...