Sitharaman: need to improve effectiveness of G20 Common Framework

Finance Minister Nirmala Sitharaman on Friday underlined the need to improve the effectiveness of the G20 Common Framework. She said this while speaking at the third session on the International Financial Architecture in Bali, Indonesia, which is hosting the third G20 Finance Ministers and Central Bank Governors meeting. Mrs Sitharaman also commended the work of an expert panel on the Multilateral Development Bank and suggested developing a roadmap for implementing its recommendations. The Finance Minister attended the Sustainable Finance for Climate Transition roundtable and underlined the need for blended finance and leveraging private capital to achieve sustainable development goals.
Mrs Sitharaman shared India's two-pronged energy transition plan, promoting renewables in the energy mix and adopting innovative policy measures for increasing energy efficiency and security. Earlier, the Union Minister participated in the second session of the G20 Finance Ministers and Central Bank Governors meeting where she shared her views on the group's health agenda, including pandemic, preparedness, and response mechanisms. She called for a global coordination mechanism with the World Health Organisation at its centre. The Minister also said India is committed to supporting all efforts to protect and prepare against any future pandemic.