The loan from the International Bank of Reconstruction and Development (IBRD), the multilateral development bank World Bank's lending arm, has a final maturity of 23.5 years, including a grace period of 6 years.
"FM @nsitharaman especially focused on enhanced support from international financial institutions, especially through increased lending capacity of Multilateral Development Banks (MDBs) as vital to achieving Sustainable Development Goals." the ministry said in the post.
Sitharaman urged the World Bank to promote a two-way exchange of innovations, drawing from the transformative experiences of the Global South in areas like digital inclusion and sustainable energy.
"India was a founding member of the United Nations in 1945. India has been a voice for the oppressed, for the marginalized, and for the voiceless," Kamboj said.
Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, reasserted the UAE's commitment to open, rules-based trade during the G20 Trade and Investment Ministerial Meeting (TIMM) in Brazil, and again made the case that WTO reform can advance the cause of multilateralism and ensur
The Ministry of Finance posted on X, "Union Minister for Finance and Corporate Affairs Smt. @nsitharaman today participated in the Fourth G20 Finance Ministers and Central Bank Governors #G20FMCBG Meeting #AnnualMeetings2024, in Washington DC, today. During her intervention, FM Smt. @nsit
The Ministry of Finance posted on X, "Prime Minister @narendramodi once said India's priority is not to impose its dominance. India has followed policy of strategic and peaceful multilateralism. India has always stood in favour of multilateral institutions. Multilateral institutions shoul
While participating in a panel discussion on the 'Bretton Woods Institutions at 80: Priorities for the Next Decade', organised by the Center for Global Development on the sidelines of the World Bank and International Annual Meetings 2024 in Washington, DC, Sitharaman stated that no countr
Global leaders during the 16th BRICS summit held in Kazan, Russia, held deliberations on various issues and came to positive conclusions. The theme of the Summit was, ''Strengthening Multilateralism for Just Global Development and Security''.
The future of global economic growth will be shaped by strategic partnerships rather than traditional multilateral trade, and India is well poised to take advantage of the global transition, said Union Finance Minister Nirmala Sitharaman at Columbia University during her US visit.
"India values the close cooperation within BRICS which has emerged as an important platform for dialogue and discussion on issues concerning the global developmental agenda, reformed multilateralism, climate change, economic cooperation, building resilient supply chains, promoting cultura