'G20 CAP ROADMAP CAN YIELD ADD'L LENDING POTENTIAL OF $200B'

The second is the G-20 independent expert group on strengthening MDBs, which was established and has submitted Volume One

The Capital Adequacy Frameworks (CAF) measures, including those under implementation and consideration by G20 countries, could yield additional lending headroom of about USD 200 billion over the next decade, Finance Minister Nirmala Sitharaman said on Saturday and noted that India has effectively articulated the priorities of the Global South in the larger global conversation on the Multilateral Development Bank reforms.

Addressing a joint press conference after the G20 Declaration was adopted, Sitharaman talked about the key achievements of the Indian Presidency in the finance track of Multilateral Development Banks. “First are the outcomes, which are focused on strengthening the MDBs to address shared global challenges in the 21st century... There are four key highlights... First, there is agreement on the need for better, bigger, and more effective MDBs. It is necessary to have better, bigger, and more effective MDBs because the developmental demands from all across the globe are high, so these institutions will have to be better and bigger. This is also going to contribute to enhancing the representation and voice of developing countries in decision-making,” she said.