Home » National » Finance Minister Smt. Nirmala Sitharaman chairs the 7th Annual Meeting of Board of Governors of New Development Bank via video-conference

Finance Minister Smt. Nirmala Sitharaman chairs the 7th Annual Meeting of Board of Governors of New Development Bank via video-conference

New Delhi:19/5/22:Union Minister of Finance & Corporate Affairs and India’s Governor for the New Development Bank (NDB), Smt. Nirmala Sitharaman chaired the 7th Annual Meeting of Board of Governors of NDB through video-conference in New Delhi today. The meeting was also attended by Governors/Alternate Governors of Brazil, China, Russia, South Africa, and the newly joined members Bangladesh and United Arab Emirates (UAE).

Due to ongoing pandemic, this Annual Meeting of NDB which was hosted/chaired by India this year was organised in virtual mode. This year’s theme for the Annual Meeting was “NDB: Optimising Development Impact”, which is particularly important and relevant in the current global economic scenario.

The Finance Minister, in her statement, underscored the importance of multilateralism and the spirit of global cooperation for economic recovery. In this regard, Smt. Sitharaman acknowledged that the NDB has successfully established itself as a reliable development partner for Emerging Market Economies.

Highlighting that India is celebrating 75 years of Independence this year, the Union Finance Minister mentioned that India’s economic growth in the current financial year has been robust and is estimated to be 8.9 percent which is the highest among all large economies. This reflects India’s strong resilience and speedy recovery. Smt. Sitharaman expressed confidence that India will continue to achieve a high growth rate in the current and next financial year.

While acknowledging the NDB’s achievements and progress made over the last six years, Smt. Sitharaman highlighted that the Bank has demonstrated strong results within its core mandate. The Union Finance Minister also appreciated the progress made towards setting up of the India Regional Office in Gift City, Gujarat.

The Finance Minister concluded her statement on a positive note, stating that NDB will play a significant and meaningful role in the development journey of its member countries in the decades to come.

About NDB

NDB is a multilateral development bank, set up by the BRICS countries (Brazil, Russia, India, China, and South Africa) in 2014 with the objective of mobilizing resources for infrastructure and sustainable development projects in the BRICS as well as other EMDCs of the world. The Bank was operationalised in 2015, with its Headquarters in Shanghai, China. Last year, NDB has expanded its membership to include four countries namely, Bangladesh, UEA, Egypt and Uruguay.  NDB has so far approved 21 projects of India for an amount of $7.1 billion.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
x

Check Also

BJP legislative party is going to select a new opposition leader ahead of Monsoon session this year

Bhubaneswar26/6/22:: Ahead of the commencement of the Monsoon session this year, BJP legislative party is going to select a new opposition leader. This was informed by BJP MLA Kusum Tete on ...