Finance Minister met IFAD chief, discussed many issues. Loktej Business News
[ad_1]
New Delhi, 15 June (Hindustan Times). Union Finance Minister Nirmala Sitharaman met International Fund for Agricultural Development (IFAD) chief Alvaro Lario here. During this, Sitharaman discussed several issues of mutual interest apart from emerging global issues.
The Finance Ministry gave this information by tweeting on Thursday. The Finance Minister, during his meeting with the IFAD chief, stressed the need for an impartial review of Multilateral Development Banks (MDBs) to meet new and emerging challenges. Sitharaman emphasized during the meeting that multilateral institutions like IFAD should contribute effectively in ensuring food security by making food storage, food processing and small-scale farming profitable.
According to the ministry, the IFAD chief appreciated the efforts of India chairing the G-20 group during the meeting. Lario conveyed the need to bring climate change to the center of IFAD’s activities. IFAD is a specialized organization of the Center for Food and Agriculture of the United Nations. Its main objective is to remove poverty in rural areas in developing countries.
It is worth mentioning that since 1978, IFAD, the United Nations’ Rome-based international financial institution, has provided $23.2 billion to developing countries in the form of grants and low-interest loans.
[ad_2]
Source link
