May 23, 2025 12:23 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Trump administration bans Harvard University from enrolling international students | ED accuses Sonia Gandhi, Rahul Gandhi of cheating, money laundering in National Herald case | 'Russia, Ukraine will immediately start negotiations for ceasefire': Donald Trump after call with Putin | 'Jill and I have learned that we are strongest in the broken places': Joe Biden on cancer diagnosis | Rahul Gandhi targets Jaishankar over Op. Sindoor again, BJP says LoP speaking Pak language | Supreme Court orders SIT probe into Madhya Pradesh minister's remarks on Colonel Sofiya Qureshi | Bengaluru: Woman killed after wall collapses on her after heavy rainfall | Pak forces targeted Golden Temple after India conducted Operation Sindoor: Army | YouTuber Jyoti Malhotra, arrested for 'espionage', travelled to Pakistan ahead of Pahalgam attack | Centre picks Shashi Tharoor to head all-party delegation for 'exposing' Pak-backed terrorism globally
G20 India
CAF measures will produce US$200 billion in the next decade | Photo Courtesy: UNI

G20 nations agreed on effective CAF measures of MDBs which will produce US$200 billion in the next 10 years: Nirmala Sitharaman

| @indiablooms | Sep 10, 2023, at 04:58 am

New Delhi/UNI: The G20 members devised the roadmap for execution of an independent panel on Capital Adequacy Frameworks (CAF) of multilateral development banks (MDBs) stated the Finance Minister Nirmala Sitharaman on Saturday.

 

The Minister said that CAF recommendations are focused on instigating MDBs to use their existing resources efficiently.

"The roadmap estimates that implementation of CAF measures will potentially yield additional lending headroom of approximately US$200 billion over the next decade," stated Sitharaman.

Listing out the achievements of the finance track during the 10 months of India's G20 Presidency, she said that the G20 countries have agreed on bigger, better and more effective MDBs to address the shared global challenges of the 21st century.

The Minister noted that through these achievements, India has harnessed the opportunity provided by the G20 Presidency to effectively articulate and embed the priorities of the Global South in the larger global conversation on MDB reforms.

The Minister further said that the global push for clearer policies on crypto assets has gained momentum under the Indian G20 Presidency and a global consensus is emerging on the same.

"The Presidency with the support of IMF and FSB (Financial Stability Board) is setting the contours of the regulatory framework for a globally coordinated approach to crypto assets," she said.

The Minister underscored the significance of Digital Public Infrastructure (DPI) in promoting financial inclusion and productivity gains.

He further highlighted that India has achieved a remarkable feat by developing all three foundational DPIs, including digital identity, through India Stack, thereby becoming the first country to do so.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Close menu