FM pitches for MDB reforms, fairer credit rating systems

Finance Minister Nirmala Sitharaman on Tuesday pitched for reforms of the international financial architecture, including multilateral development bank (MDB) reforms and credit rating systems.

- PRESS TRUST OF INDIA

These reforms are necessary in the interest of inclusivity and equity, she noted.

Speaking at the 4th International Conference on Financing for Development (FFD4) at Seville, Spain, she also supported the call for a reversal in the decline of Official Development Assistance (ODA), and urged developed countries for enhancing climate finance.

She said that the climate finance should be predictable, accessible, and concessional—particularly for adaptation in vulnerable countries.

"MDB lending must be aligned with long-term development goals and backed by robust monitoring frameworks to ensure that funds are used as intended," she said.