Global Economy

FinMin, NDB to hold seminar on importance of social infra financing, digital tech use

The Finance Ministry and New Development Bank (NDB) will organise a seminar on the importance of ‘Social Infrastructure Financing and use of Digital Technologies‘.

The seminar, as part of the economic and financial cooperation agenda under the Indian BRICS chairship 2021, is being organised in the run-up to the 13th BRICS Summit to be held later this year.

The COVID-19 pandemic has reinforced the importance of investing in social infrastructure and underpinned the importance of leveraging digital technologies in advanced and emerging economies, the Finance Ministry said in a statement.

“The challenges faced, are common to all, especially to the BRICS nations. There is a great potential in building sustainable mechanism to chart the way forward and share the common benefits associated with social, economic and digital development,” it said.

This seminar, to be held on May 13, will engage high-level participants from both the public and private sector and focus on the key issues surrounding social infrastructure financing and the use of Digital Technologies in the 21st century, it said.

The inaugural address will be made by Economic Affairs Secretary Ajay Seth, followed by Marcos Troyjo, president NDB.

BRICS (Brazil, Russia, India, China and South Africa)-led NDB was set up in 2014 with the objective of mobilising resources for infrastructure and sustainable development projects for the grouping and other emerging economies.

Headquartered in Shanghai, China, NDB was operationalised in 2015 and has so far approved 18 projects in India worth USD 6,924 million


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