360° Coverage : India seeks 'special windows' for infrastructure...

12 Updates
India seeks 'special windows' for infrastructure development
Photo Credit: , Getty Images

India seeks 'special windows' for infrastructure development

Oct 11 2013, 11:48pm CDT | by IANS

Washington, Oct 12 (IANS) India wants industrialised countries to devise "unconventional development financing," including creation of special windows, for ensuring finance in support of infrastructure development in emerging markets.

Washington, Oct 12 — India wants industrialised countries to devise "unconventional development financing," including creation of special windows, for ensuring finance in support of infrastructure...

Filed under: news

YouTube Videos Tweets

 
 
 

48 weeks ago

India seeks 'special windows' for infrastructure development

Oct 11 2013, 11:48pm CDT | by IANS

Washington, Oct 12 (IANS) India wants industrialised countries to devise "unconventional development financing," including creation of special windows, for ensuring finance in support of infrastructure development in emerging markets.

Washington, Oct 12 — India wants industrialised countries to devise "unconventional development financing," including creation of special windows, for ensuring finance in support of infrastructure development in emerging markets.

Investment, particularly in infrastructure, can play critical role in sustaining the global recovery and rebalancing, Finance Minister P. Chidambaram said at a meeting of G20 Finance Ministers and Central Bank Governors here Friday

"Larger investments in infrastructure in emerging markets will increase the potential of these countries to grow more rapidly in the medium run and will also contribute to a much needed global demand in the short run," he said.

Chidambaram recalled Indian Prime Minister Manmohan Singh had suggested at the St Petersburg Summit that if industrialised countries can put to use unconventional monetary policies, "we need to show the same innovativeness in devising unconventional development financing".

Special windows need to be created in the World Bank and other Multilateral Development Banks' (MDBs) for ensuring finance in support of infrastructure development, he said.

These should include provision of finance for ongoing projects which face a sudden scarcity of funds owing to volatile capital flows, he said, and access to this window should be beyond the normal country limits, which otherwise introduce inflexibility.

The aim should be to create mechanisms which can increase the flow of infrastructure financing at times when other investments are slowing down, Chidambaram said.

He also suggested having a greater involvement of the IFC in infrastructure financing to help catalyse private sector flows into the sector.

Chidambaram welcomed the proposal to set up a new and dedicated financing facility called the Global Infrastructure Facility at the World Bank to serve the financing needs for infrastructure, particularly in emerging and developing economies.

India, he said would like to see the detailed proposal for its establishment with specific timelines by the December Deputies meeting.

G20 is well placed to coordinate various stakeholders including governments, especially the ones that have large surpluses, the private sector, and multilateral development banks, for investment in developing countries, Chidambaram said.

The minister suggested doing so "through innovative ways to recycle global savings and development of viable strategies that overcome the presumed hurdle of 'lack of enabling environment' for infrastructure investment."

IANS

Source: IANS

 
Update
12

Tweets

 
 
Update
11

19 hours ago

Swamy asks Manmohan Singh to explain his duty as PM to India

Sep 15 2014 2:25am CDT | Source: Business Standard

Reacting to former Comptroller and Auditor General (CAG) of India Vinod Rai's allegations against former Prime Minister Manmohan Singh, Bharatiya Janata Party (BJP) leader Subramanian Swamy said here on Monday that Singh should ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
10

3 days ago

T N Ninan: In a troubled world

Sep 12 2014 11:20am CDT | Source: Business Standard

In contrast with Manmohan Singh, is Mr Modi proving to be a lucky prime minis ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
9

3 days ago

Rahul Jacob: Book values

Sep 12 2014 11:19am CDT | Source: Business Standard

Why I didn't write a biography of Manmohan ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
8

3 days ago

BJP questions Manmohan Singh's record as PM after Vinod Rai's revelations

Sep 12 2014 9:46am CDT | Source: Business Standard

Comments by ex-Comptroller and Auditor General (CAG) Vinod Rai that former Prime Minister Manmohan Singh cannot possibly shirk his responsibility in the 2G and coal block allocation scams gave Bharatiya Janata Party (BJ ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
6

1 week ago

Indian PM to visit White House on Sept 29-30

Sep 8 2014 7:56pm CDT | Source: Business Insider

Washington (AFP) - Indian Prime Minister Narendra Modi, for years barred from visiting the United States, will meet President Barack Obama in two days of eagerly awaited White House talks at the end of the month.The meetings, on September 29 and 30, will take place on Modi's first visit to Washington since he led his Hindu nationalist Bharatiya Janata Party (BJP) to a crushing victory in May's elections. Modi was told in 2005 by the adm ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
5

3 weeks ago

UPA pressured me to drop names from CWG, coal reports: Vinod Rai

Aug 24 2014 8:04am CDT | Source: Business Standard

In fresh embarrassment to Congress, especially former Prime Minister Manmohan Singh, ex-CAG Vinod Rai has claimed he was pressurised by the UPA regime to drop certain names from audit reports in Coalgate and Commonwealth Games scams, ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

3 weeks ago

UPA pressured me to drop names from CWG, coal reports: Rai

Aug 24 2014 1:55am CDT | Source: Business Standard

In fresh embarrassment to the erstwhile UPA regime, particularly to former Prime Minister Manmohan Singh, former CAG Vinod Rai has claimed that coalition functionaries had deputed politicians to get him leave out nam ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
3

3 weeks ago

Manmohan wanted to contact Pakistani militants: Yasin Malik

Aug 23 2014 5:05am CDT | Source: Business Standard

JKLF leader Yasin Malik has said then Indian prime minister Manmohan Singh wanted him to contact militants in Paki ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
2

3 weeks ago

Father and friends

Aug 20 2014 10:55am CDT | Source: Business Standard

Thanks to the huge explosion of uninformed opinion, no other prime minister has had to bear so much hate and, worse, ridicule as Manmohan Singh. How did his family react to this tsunami of abuse, jokes and even ins ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

3 weeks ago

Manmohan Singh immune as PM, not as FM: US court

Aug 20 2014 12:00am CDT | Source: Business Standard

US District Judge ruled that Manmohan Singh was entitled to "residual immunity" even after he ceased to b ...
Source: Business Standard   Full article at: Business Standard
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

World Bank launches website to track project progress
Washington, Sep 16 (IANS) The World Bank Monday launched a new website to allow users to track the progress of the bank's projects and check whether the group is meeting its key targets, including poverty reduction and boosting inclusive growth.
 
 
No Ebola risk in Italy from migrants
Rome, Sep 16 (IANS) Italian Health Minister Beatrice Lorenzin Monday ruled out that there could be a risk of Ebola coming to Italy from African migrants, as suggested by some media reports in the past weeks.
 
 
India, Vietnam for peaceful South China Sea, $15 bn trade (Intro Roundup)
Hanoi, Sep 15 (IANS) Firming up their relationship at a higher level, India and Vietnam Monday called for a peaceful, unfettered South China Sea, inked seven agreements including for direct Delhi-Hanoi flights and an extended line of credit for purchase of military equipment, as they set a target of $15 billion bilateral trade by 2020 with a focus on tourism, garments and textiles, pharmaceuticals and agriculture.
 
 
Vietnamese kill five mn dogs for food annually
Bangkok, Sep 15 (IANS/EFE) The people of Vietnam slaughter at least five million dogs for food in a year, a figure only surpassed by China in the entire Asian continent, Vietnamese media reported Monday.
 
 
 

Latest from the Network

Julie Hermann Apologizes for 'Regrettable Actions' of Rutgers Fans
Julie Hermann has apologized for the behavior of Rutgers University fans who made fun of Penn State University during the two teams' Big Ten football game on Sept. 13.Hermann issued a statement on the Rutgers Scarlet...
Read more on Sport Balla
 
Nicki Minaj: Blue Ivy is a 'precious little lamb'
Nicki Minaj thinks Beyoncé and Jay Z's daughter is the ''most precious little lamb.'' The 'Anaconda' hitmaker, 31, made a surprise appearance at the couple's 'On The Run' gig in Paris last weekend and got to hang out...
Read more on Celebrity Balla
 
300,000 children back to school in Syria, Gaza: UN
United Nations, Sep 16 (IANS) As the new school year kicks off across the world, nearly 300,000 children returned Monday back to UN-run schools in Gaza and Syria. "In Gaza, conflict has profoundly affected the...
Read more on Politics Balla
 
Russia calls for international efforts to combat terrorism
Moscow, Sep 16 (IANS) Russia is calling on the international community to join efforts in defeating terrorism in the Middle East and North Africa, Foreign Minister Sergei Lavrov said Monday. Russia insists that the...
Read more on Politics Balla
 
Five extremists killed in raids in Egypt
Cairom, Sep 16 (IANS) At least five extremists were killed Monday during security raids on their hideouts in Egypt's North Sinai province, a security official said on condition of anonymity. "After confrontations with...
Read more on Politics Balla
 
Wife keeps Ben Affleck 'calm'
Los Angeles, Sep 16 (IANS) Actor Ben Affleck credits his wife Jennifer Garner for being a calming influence on him whenever he feels the "terror" of starting a new project. Even after so many years of being in showbiz...
Read more on Celebrity Balla
 
Bolivia prison clash leaves four dead
Sucre, Sep 16 (IANS) Authorities in Bolivia Monday confirmed that four people were killed and 11 others injured in a clash in central Bolivia's El Abra prison over the weekend. The fighting broke out around 10 p.m....
Read more on Politics Balla
 
World Bank launches website to track project progress
Washington, Sep 16 (IANS) The World Bank Monday launched a new website to allow users to track the progress of the bank's projects and check whether the group is meeting its key targets, including poverty reduction and...
Read more on Business Balla
 
EU leads opposition against Iceland's whaling
Reykjavík, Sep 16 (IANS) The European Union (EU) led a joint multi-country opposition against the Iceland government's permission for commercial whale hunting and trading Monday, according to a statement issued by the...
Read more on Politics Balla
 
Ariana Grande wrote sex song at 14
Ariana Grande wrote a sexual song when she was 14. The 21-year-old singer first penned a naughty track when she was a teenager, but her mother thought she was ''too young'' to be creating records like that. She said...
Read more on Celebrity Balla