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India Renews Call to Reform Financial Institutions for Development Funding
India has asked for changes to big international money organizations.
It says developing countries should have a fairer say in how these organizations work.
India also wants those countries to be able to get money on affordable and reliable terms.
At a United Nations meeting, lawmaker C. P. Joshi described some ways India supports development in other countries.
These include funds and international partnerships focused on development, solar power and disaster resilience.
India said it also shares knowledge about digital services and financial inclusion.
Joshi said countries should be able to set their own development priorities.
He added that work on goals not finished by 2030 should continue.
India called for reforms to international financial institutions, seeking stronger Global South representation and affordable, predictable funding for developing nations.
BJP MP C. P. Joshi made the remarks at the UN General Assembly's Second Committee.
Joshi cited India's support through the India–UN Development Partnership Fund, the IBSA Fund, the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure.
India said it shares expertise in digital public infrastructure, financial inclusion and domestic resource mobilisation with developing countries.
India argued that the Sustainable Development Goals should reflect national priorities and unfinished goals should continue beyond 2030.
- Who
- India, represented at the meeting by BJP MP C. P. Joshi.
- What
- India reiterated its call to reform international financial institutions and described its development support for other countries.
- Where
- The United Nations General Assembly.
- When
- At a meeting of the UN General Assembly's Second Committee; no date is specified.
- Why
- India said reforms are needed to give the Global South fairer representation and developing countries affordable, predictable funding.
Key facts
- Speaker
- C. P. Joshi, a BJP MP who heads the Parliament Committee on Petitions.
- Meeting
- The UN General Assembly's Second Committee, which handles economic and financial matters.
- India–UN Development Partnership Fund
- India has committed $150 million; recipients set priorities and the programme has no loan element.
- Coalition for Disaster Resilient Infrastructure
- India has pledged about $70 million and hosts its secretariat.
- Other initiatives cited
- The IBSA Fund, the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure.
- Sustainable Development Goals
- The 17 goals were adopted in 2015 with a 2030 deadline.
- India's SDG position
- Goals should respect national priorities, and unfinished elements should continue beyond 2030.
Sources
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