India backed a “holistic” approach to multilateral development bank reforms while pitching a staggered timeline for a capital increase to make it more acceptable to the membership.
In her interaction with the G20 expert group on Multilateral Development Bank (MDB) reforms in Washington DC, finance minister Nirmala Sitharaman emphasised the need for a “transformative and not incremental” approach.
She also told the group that any expansion of MDB’s mandate should be in line with their ability to fund them without compromising on the development financing, people familiar with the deliberations.
Source:
Economic Times
