Prime Minister Narendra Modi on Friday made a case for strengthening multilateral improvement banks to satisfy the challenges going through the world, particularly local weather change.
In his video handle to the G20 meeting of the finance ministers and central bank governors, PM Modi mentioned it was crucial for the grouping to offer stability, confidence and progress to the worldwide economic system.
India took over the presidency of G20 in December final yr and hosted varied occasions and conferences. The assembly of finance ministers and central financial institution governors is the primary main occasion of G20 underneath India’s presidency.
“You symbolize the management of world finance and economic system at a time when the world is going through severe financial difficulties. The COVID-19 pandemic has delivered a once-in-a-century blow to the worldwide economic system. Many nations, particularly growing economies, are nonetheless dealing with its after-effects. We are additionally witnessing rising geopolitical tensions in numerous components of the world,” PM Modi mentioned in a video message.
PM Modi mentioned even because the world inhabitants has crossed 8 billion, progress on Sustainable Development Goals appears to be slowing down.
“We have to collectively work to strengthen multilateral improvement banks for assembly international challenges like local weather change and excessive debt ranges,” he mentioned.
PM Modi additionally mentioned Indian customers and producers are optimistic and assured concerning the future.
“We hope that it is possible for you to to transmit the identical optimistic spirit to the worldwide economic system,” he mentioned.
(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)