Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), and Finance Minister Nirmala Sitharaman met on Thursday to discuss on the mutual interests of emerging Global Challenges.
The finance minister emphasized during the meeting that multilateral institutions should make significant investments in food processing, storage, and small-scale farming to ensure food security.
In addition to this, the institutions should also concentrate on ensuring the involvement of developing and emerging economies and dealing with contemporary global issues like food security, debt distress, and climate change.
FM Nirmala Sitharaman also stated the necessity for the multilateral development banks (MDBs) to conduct a fresh, fair review to address the new issues. The President of IFAD appreciated India’s leadership taken on the G20 presidency, he even addressed on how IFAD brought climate change to the center stage of the institution.
