Finance Minister Nirmala Sitharaman has appreciated the World Bank’s consideration of 27 out of the 30 recommendations from the G20 Independent Expert Group on strengthening multilateral development banks (MDBs). During her interaction with Professor Nick Stern in New Delhi, she emphasized that climate finance and technology transfer from developed to developing countries are vital for enabling ambitious climate action in the latter. Prof. Nick Stern is a member of the Independent Expert Group on Strengthening MDBs established during India’s G-20 Presidency.

Prof Stern appreciated the role played by India’s G-20 Presidency in bringing the voice of the Global South to the centre stage.