Execs yet to decide on investing after EBRD chief’s meet
New Delhi: While Indian business leaders recently met the president of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, they are yet to make concrete investment commitment with the multilateral development bank that funnels investments to build market economies, two people with direct knowledge of the matter said. “They are on wait and watch mode on investment opportunities," one of the two people cited above said. Basso, who assumed office as the first woman to chief of the EBRD on 19 July, met with Indian business leaders in New Delhi, to discuss investment opportunities in the countries where the bank operates.
“However, the Indian businesses did not make any firm investment commitments," a second person said. “The situation in Ukraine is a concern for fresh investments in the region," he said. The EBRD had outlined investment opportunities in multiple countries where it operates, such as Ukraine and central European and Baltic states, eastern and south eastern European countries, Central Asia, South and Eastern Mediterranean regions as well as Africa.
These regions provide huge opportunities for Indian firms to diversify, as they are scouting for new markets, Renaud-Basso had said in an interview. A key challenge for MDBs is to get private capital as the risk to return ratio is often not feasible. MDBS need to increase annual spending by $3 trillion by 2030, including $1.8 trillion for additional climate action and $1.2 trillion for achieving sustainable development goals according to recommendations of a G20 committee on MDBs headed by N.K.
Singh and Lawrence Summers. “The purpose of the meetings in New Delhi was not to get firm commitments from the Indian industry. It was to enhance
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