<ul data-eligibleForWebStory="false"><li>India's Finance Minister, Nirmala Sitharaman, emphasized the need to renew the mandate of the New Development Bank (NDB) with a focus on greater agility, technological advancement, and efficiency.</li><li>The NDB has played a significant role in reshaping the financial landscape for the global South by approving over 100 projects and providing financing exceeding USD 35 billion across member countries for initiatives like metro rail, renewable energy, and water management.</li><li>Sitharaman highlighted the importance of NDB as a platform for creating a more equitable global financial architecture and stressed the necessity for collective action by the global South to address fiscal constraints, climate change, and geopolitical dynamics.</li><li>The Finance Minister noted that India is uniquely positioned to lead sustainable development efforts, leveraging initiatives like UPI, Aadhaar, financial inclusion drives, and renewable energy projects to bridge the financing gap for Sustainable Development Goals (SDGs).</li></ul>

Mandate Of NDB Needs To Be Renewed With Focus On Greater Agility And Efficiency: FM

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