India needs a comprehensive country strategy to guide the India-NDB (New Development Bank) partnership as state authorities are now more willing to take funds from the multilateral lender which was set up by the BRICS nations, said Ashwani K Muthoo, the first director general of NDB’s independent evaluation office (IEO).
The absence of a country strategy poses challenges to project performance, Muthoo said in an interview, even after expressing satisfaction over the execution of the first project his office evaluated in India.
The New Development Bank, earlier called BRICS Development Bank, was set up in 2015 to finance public and private projects through loans, guarantees and equity participation.
Source:
Economic Times
