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Sitharaman Urges Stronger Global Role for MDBs
Mint Chennai
|July 05, 2025
The finance minister said MDBs are uniquely positioned to complement national efforts
Finance minister Nirmala Sitharaman on Friday urged multilateral development banks (MDBs) to adopt a stronger and more targeted approach in supporting the Global South, which faces mounting fiscal pressures, escalating climate risks, and deepening geopolitical uncertainty.
Speaking at the opening ceremony of the 10th annual meeting of the New Development Bank—formerly the BRICS Development Bank—Sitharaman said MDBs are uniquely positioned to complement national efforts by mobilising public and private capital, offering concessional financing, and deploying sophisticated risk mitigation tools.
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