Union Finance Minister (FM), Nirmala Sitharaman, on Saturday, participated in G7 African Ministerial Roundtable and sought an enhanced support from international financial institutions to achieve sustainable development goals (SDGs), the Finance Ministry said in a post on social media platform X.
"FM especially focused on enhanced support from international financial institutions, especially through increased lending capacity of Multilateral Development Banks (MDBs) as vital to achieving Sustainable Development Goals," the ministry said in the post.
The Union Minister, during the G7 African Ministerial Roundtable discussed country-specific solutions to development finance challenges, and G7 initiatives for development in Africa, on the sidelines of Annual Meetings 2024 in Washington, D.C.
The minister urged scaling up access to long-term and affordable financing for development, supported by structural reforms and policy measures to promote domestic resource mobilisation and attract foreign investment to build long-term financial resilience to attain SDGs.
Sitharaman highlighted the deep-rooted partnership between India and Africa, FM Sitharaman said, "Prime Minister Narendra Modi has redefined this partnership with 10 guiding principles aimed at supporting Africa's growth through capacity-building, enhanced public services, and addressing Climate Change, among others".
The Union Finance Minister urged G7 and G20 to intensify support for Africa, the finance ministry added in the post.
The Union Finance Minister underlined India's support to Africa in areas like infrastructure development and the health sector, offering technical expertise and technology transfers, the ministry added.
The Finance Minister also participated in the Annual Meetings 2024 organised by the World Bank Group in Washington DC.
She also highlighted recent Union Budget announcements focused on jobs and skilling, the finance ministry added in the post. (ANI)
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