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.

By Latha Venkatesh  Aug 25, 2023 8:56:44 PM IST (Updated)

1 Min Read
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.