homevideos Newseconomy NewsNK Singh emphasises capital adequacy framework as crucial for strengthening multilateral development banks
NK Singh emphasises capital adequacy framework as crucial for strengthening multilateral development banks
India's G20 Presidency places significant emphasis on the reform of multilateral development banks (MDBs), including institutions like the World Bank and the International Development Agency (IDA). In a recent interview with CNBC-TV18, NK Singh, the Co-Convener of the G20 Expert Group and Chairman of the 15th Finance Commission, underscored the potential for bolstering the lending capabilities of MDBs through the complete implementation of a capital adequacy framework report. This framework, if fully enacted, promises to fortify the financial underpinning of these banks, enhancing their capacity to provide critical financial support.
India's G20 Presidency places significant emphasis on the reform of multilateral development banks (MDBs), including institutions like the World Bank and the International Development Agency (IDA).
A comprehensive report crafted by a panel of experts, featuring notable figures like NK Singh from India and Lawrence Summers from the US, is poised to rejuvenate these organisations.
The overarching goal is to amplify their contributions beyond poverty alleviation, extending into the realm of global public goods such as combatting climate change and bolstering sustainability.
In a recent interview with CNBC-TV18, NK Singh, the co-convener of the G20 expert group and chairman of the 15th Finance Commission, underscored the potential for bolstering the lending capabilities of MDBs through the complete implementation of a capital adequacy framework report.
This framework, if fully enacted, promises to fortify the financial underpinning of these banks, enhancing their capacity to provide critical financial support.
In addition to advocating for this capital adequacy framework, the expert group has recommended an ambitious target of tripling sustainable lending by 2030. Moreover, the panel has called for greater flexibility in investment strategies, including innovative measures such as credit enhancement by involving private sector participation.
Watch the accompanying video for the entire discussion.
First Published: Aug 25, 2023 8:35 PM IST
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