New Delhi, October 26 - Union Finance Minister Nirmala Sitharaman has emphasized the need for the World Bank to provide affordable and low-interest loans to middle-income countries. She said this while addressing the plenary session of the Development Committee on 'Future-Ready World Bank Group' during the 2024 Annual Meeting of the World Bank in Washington, the capital of the US.
In this regard, the information given by the Ministry of Finance said, "The Union Finance Minister has emphasized the need for more affordable and cheap interest rate loans from the World Bank for middle-income countries. So that their wider participation can be promoted and they can accelerate their development by taking more loans. "The ministry has given this information through a social media post.
She also highlighted the need to adopt a data and evidence-based approach in developing global indices and comparing countries. She also reiterated India's stand that global governance indicators and the newly proposed B-Ready Index should be based on objective data.
He also highlighted the history of multilateral development banks and the important role played by the Global South in shaping the foundation of these institutions at the Bretton Woods Conference of 1944.