Finance Minister's statement, 'Support needed from financial institutions to achieve sustainable development goals'
FM: The Finance Ministry wrote in the post that Finance Minister Nirmala Sitharaman focused on seeking support from international financial institutions. Especially the Multilateral Development Banks (MDBs) were asked to increase the loan capacity so that the Sustainable Development Goals could be achieved.
Finance Minister Nirmala Sitharaman participated in the G7 African Ministerial Roundtable, Washington, USA, on Saturday. Therein, he urged more support from international financial institutions for achieving SDGs. The Finance Ministry tweeted this information on social media platform X.
The Finance Ministry in a post wrote that Nirmala Sitharaman underlined the requirement of seeking support from international financial institutions, mainly the Multilateral Development Banks. Especially the Multilateral Development Banks (MDBs) were asked to increase the loan capacity so that the Sustainable Development Goals could be achieved. The G7 African Ministerial Roundtable discussed solutions to finance challenges and development initiatives in Africa. During this, the Finance Minister urged a hike in access to long-term and affordable financing.
Finance Minister Nirmala Sitharaman also spoke about the deep partnership that exists between India and Africa during the conference. Finance Minister Sitharaman said, 'Prime Minister Narendra Modi has redefined the India-Africa partnership with 10 guiding principles aimed at supporting Africa's development through capacity building, enhanced public services and addressing climate change. ' The Finance Ministry informed that the Union Finance Minister emphasized that India supports through engagement by providing technical expertise and technology transfer to Africa in various diversified fields of developing infrastructure, health sectors among others. The Finance Minister also attended a part of the Annual Meeting 2024 hosted by the World Bank Group, Washington DC. During the event, the Union Minister met Gita Gopinath, First Deputy Managing Director (FDMD) of the International Monetary Fund and congratulated the FDMD for the successful organization of Annual Meeting 2024.
