European development bank chief takes reform agenda to G20 talks in India
European Bank for Reconstruction and Development (EBRD), of which India is a shareholder, will arrive in India on Sunday for a G20 finance summit with the reform agenda for multilateral development banks (MDBs) high on the list of priorities. Odile Renaud-Basso, the first woman head of an MDB as EBRD president, will begin her four-day visit in Gandhinagar for the Finance Ministers and Central Bank Governors gathering.
From Gujarat, she is scheduled for a high-level roundtable with the Confederation of Indian Industry (CII) in New Delhi to discuss opportunities for the Indian private sector in EBRD countries of operations in Central Asia, Middle East and North Africa (MENA), Turkey and Eastern Europe. «The key discussion which is relevant for us is everything related to the MDB reform agenda, which is very prominent in the G20 discussion now,» said Renaud-Basso during a pre-visit interview.
«India has a very important role to play as the president of the G20 at a time of a number of global challenges because of the geopolitical context. »So, the Finance Ministers and Central Bank Governors meeting has an important role to play in a number of areas, from discussing the macroeconomic situation, policy coordination, financial sector development in this new environment with high inflation which has triggered some turmoil in the financial sector… [and] there's also some implication on the financing condition and financial flows for emerging markets," she said.
London-headquartered EBRD is an MDB set up in 1991 after the fall of the Berlin Wall to promote private and entrepreneurial initiative in emerging Europe. It invests in emerging economies across continents according to a set of criteria that aim to make its countries
. Read more on economictimes.indiatimes.com
