NEW DELHI: The five agenda points including multilateral development banks’ reforms, digital public infrastructure (DPI), road map for crypto assets, climate finance and financing cities of the tomorrow, had been reiterated during the virtual meet of G20 held on Wednesday, finance minister Nirmala Sitharaman said.
“There was overwhelming appreciation and keenness to take these to next presidency meeting.. . several reiterations were made to make better MDBs .. several MDBs are already collaborating with each other and exploring options in innovative finance,” she said.
“So, the international expert group’s report has been welcomed. Many aspects of it have been set on course. The boards are taking it for each of the banks, particularly, world bank has started doing a lot of action, which are reflective of what the recommendations are,” she added. She gave the example of African Development Bank and the Inter-American Development Bank, who are collaborating to develop hybrid capital instruments.
“US administration has asked the US Congress to increase the World Bank financing by more than 25 billion. Germany has pledged 305 million euros of hybrid capital, that can be used by the World Bank to have additional lending of 2.4 billion euros over 10 years,” Sitharaman stated. She said advancements in G20’s plan for a shared regulatory framework for cryptos.