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

6 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

 
 
 

1 year 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
6

2 weeks ago

Prime Minister Congratulates Dr Manmohan Singh

Nov 5 2014 4:52am CST | Source: Business Standard

Prime Minister Shri Narendra Modi, has congratulated Dr Manmohan Singh on receiving Japan's Grand Cordon of the Order of the Paulownia Flowers. "Matter of joy & pride that Japan has conferred Dr. Manmohan Singh with Grand Cordon of the Order of .. ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
5

2 weeks ago

Congress congratulates Manmohan, makes veiled attack on Modi

Nov 4 2014 4:20am CST | Source: Business Standard

Congress today launched a veiled attack on Prime Minister Narendra Modi as it congratulated his predecessor Manmohan Singh for being chosen for one of Japan's top national awards saying that the 'world values work not ju ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

3 weeks ago

Union ministers absent at Indira Gandhi's Memorial

Oct 30 2014 11:20pm CDT | Source: HeadlinesToday.in

Mukherjee, Congress President Sonia Gandhi and former Prime Minister Manmohan Singh paid floral tributes at Shakti Sthal, the memorial of Indira Gandhi. ...
Source: HeadlinesToday.in   Full article at: HeadlinesToday.in
 

 
Update
3

8 weeks ago

Indian PM Modi faces US court summons over riots: rights group

Sep 26 2014 10:23am CDT | Source: Business Insider

New Delhi (AFP) - A New York court has ordered Narendra Modi to answer allegations of "attempted genocide" over deadly anti-Muslim riots, a rights organisation said Friday, as he began his first US visit as India's prime minister.The complaint relates to anti-Muslim violence that left at least 1,000 people dead in 2002 in the western Indian state of Gujarat, where Modi served as chief minister before he was elected prime minister in May.Modi denies any wrongdoing ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
2

8 weeks ago

PM greets Dr. Manmohan Singh on his birthday

Sep 26 2014 1:50am CDT | Source: Business Standard

The Prime Minister, Shri Narendra Modi, has wished the former Prime Minister, Dr. Manmohan Singh, on his birt ...
Source: Business Standard   Full article at: Business Standard
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Mummy wearing jewellery unearthed in Egypt
London, Nov 23 (IANS) Spanish archaeologists have discovered about 4,000 years old female mummy wearing rare jewellery in Egypt.
 
 
Exercise and fasting could boost brain's functions
Washington, Nov 23 (IANS) Exercise along with occasional fasting is good for boosting the brain's neurons, shows a new research.
 
 
One infant dies in Pakistan hospital
Islamabad, Nov 23 (IANS) One more infant died due to lack of oxygen in an incubator and negligence of the hospital administration in Pakistan, bringing the number of such deaths to 19 in the past five days.
 
 
American whiskey faces challenge in whisky-gulping India
Washington, Nov 23 (IANS) For the most part Indians love things American, but when it comes to their tipple, the world's largest whisky drinkers usually go for Scotch or their very own home-made brands.
 
 
 

Latest from the Network

Walmart, Best Buy, Amazon and Sam's Club Black Friday 2014 Sales are Live
The big retailers cannot wait this year and launched Black Friday 2014 sales as early as Friday. These sales are the real deal offering deals that are advertised in Black Friday 2014 Ads. On Friday Walmart Black Friday...
Read more on Black Friday Countdown
 
Pune FC seal semifinal berth in King's Cup
Thimphu, Nov 23 (IANS) Pune FC thrashed Assam State Electricity Board FC 5-0 in a third round Group-B encounter to seal their place in the semi-finals of the 2014 King's Cup at the Changlimithang Stadium here Sunday....
Read more on Sport Balla
 
Australia the team to beat at World Cup: Vaughan
London, Nov 23 (IANS) Former England captain Michael Vaughan Sunday said that having hit upon a rich vein of form against South Africa, Australia have emerged as the front-runners and will be the team to beat at the...
Read more on Sport Balla
 
Taylor Swift to receive Dick Clark Award
Los Angeles, Nov 23 (IANS) Singer Taylor Swift has been named as the first recipient of Dick Clark Award For excellence at 2014 American Music Awards (AMAs). The 24-year-old, who is enjoying a great year with her...
Read more on Celebrity Balla
 
Australia displace India as top ODI team
Dubai, Nov 23 (IANS) Four-time World Champion Australia Sunday returned to the top of the One-Day International (ODI) Team Rankings, displacing India, after defeating South Africa 4-1 in a five-match series, as per the...
Read more on Sport Balla
 
Iraqi court sentences Sunni politician to death
Baghdad, Nov 23 (IANS) An Iraqi court Sunday sentenced a former Sunni lawmaker to death on a criminal charge, an official said. "The Central Criminal Court issued today a verdict of death penalty for the former...
Read more on Politics Balla
 
Amzon Black Friday 2014: $3.99 Blu-ray Movies
Black Friday 2014 Sales events are underway since Friday with the Amazon Black Friday 2014 Deals Week and the Walmart Black Friday Pre Sale. Walmart matched several advertised Black Friday 2014 deals of competitors on...
Read more on Black Friday Countdown
 
Best Buy Black Friday 2014 sale launched with $3.99 Blu-ray Movie
Like Walmart and Amazon, Best Buy kicks off their Black Friday 2014 sale early. You can already buy Best Buy Black Friday deals advertised in the Best Buy Black Friday 2014 ad today online at bestbuy.com. There is no...
Read more on Movie Balla
 
Messi delighted with new La Liga scoring record
Madrid, Nov 23 (IANS) Lionel Messi has made footballing history, scoring a hat-trick against Sevilla which made him the highest scorer in the history of the Spanish La Liga. Messi's 252nd, 253rd and 254th goals...
Read more on Sport Balla
 
Tatum, Carolin to co-direct 'Leonard Peacock'
Los Angeles, Nov 23 (IANS) Actor Channing Tatum and filmmaker Reid Carolin have been roped in by the Weinstein Company to co-direct and produce the film "Leonard Peacock", an adaptation of Matthew Quick's YA book "...
Read more on Celebrity Balla