Team Blitz India
MUMBAI: Union Finance Minister Nirmala Sitharamanon August 11 said that the primary focus of India’s G20 Presidency has been the role and consolidation of multilateral development banks (MDB) and to address their shared global development goals.
Speaking virtually at a seminar organised by the Ministry of Finance and the Reserve Bank of India under G20 titled ‘Global Economy: Challenges, Opportunities & the Way Forward’, Sitharaman said that the MDBs are facing challenges on various fronts and are not fully equipped to handle the challenges.
“The crucial recommendation to handle these challenges for the MDB, that are to be discussed here are to tackle global challenges along with a core mission to poverty reduction and shared prosperity, to triple their sustainability lending by 2030 and to enhance financial strength and general capital increase,” she said.
