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India's experience of digital transformation can serve as a model for countries seeking to harness digital solutions for inclusive growth: FM As on : 12-Nov-24  11:24

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday said the Asian Infrastructure Investment Bank (AIIB) should strive for greater provision of innovative financial models and scale up efforts for private capital mobilisation. The minister in her meeting with the AIIB delegation, comprising 11 officials of the Board of Directors of AIIB and senior representatives and staff, said India could act as a sandbox for AIIB's piloting of innovative financing models and technologies. Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India's next generation reforms. She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB's project design and implementation. The finance minister mentioned that India's experience of digital transformation can serve as a model for other countries seeking to harness digital solutions for inclusive growth and also India's rich experience of disaster management, which can be of value to several vulnerable economies.

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