shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > India News > Article > Need to collectively work to strengthen multilateral development banks to meet global challenges PM Modi

Need to collectively work to strengthen multilateral development banks to meet global challenges: PM Modi

Updated on: 24 February,2023 10:38 AM IST  |  Bengaluru
PTI |

In his video address to the G20 meeting of the finance ministers and central bank governors, PM Modi said it was imperative for the grouping to provide stability, confidence and growth to the global economy

Need to collectively work to strengthen multilateral development banks to meet global challenges: PM Modi

Prime Minister Narendra Modi. Pic/PTI

Prime Minister Narendra Modi on Friday made a case for strengthening multilateral development banks to meet the challenges facing the world, especially climate change.


In his video address to the G20 meeting of the finance ministers and central bank governors, PM Modi said it was imperative for the grouping to provide stability, confidence and growth to the global economy.


India took over the presidency of G20 in December last year and hosted various events and conferences. The meeting of finance ministers and central bank governors is the first major event of G20 under India's presidency.


Also Read: India's potential in green energy no less than a goldmine, invest here: PM Modi to investors

"You represent the leadership of global finance and economy at a time when the world is facing serious economic difficulties. The COVID-19 pandemic has delivered a once-in-a-century blow to the global economy. Many countries, especially developing economies, are still coping with its after-effects. We are also witnessing rising geopolitical tensions in different parts of the world," PM Modi said in a video message.

The prime minister said even as the world population has crossed 8 billion, progress on Sustainable Development Goals seems to be slowing down.

"We need to collectively work to strengthen multilateral development banks for meeting global challenges like climate change and high debt levels," he said.

PM Modi also said Indian consumers and producers are optimistic and confident about the future.

"We hope that you will be able to transmit the same positive spirit to the global economy," he said.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK