PM calls for strengthening multilateral development banks to meet global challenges

Prime Minister Narendra Modi on Friday made a case for strengthening multilateral development banks to meet the challenges facing the world, especially climate change.

In his video address to the G20 meeting of the finance ministers and central bank governors, Modi said it was imperative for the grouping to provide stability, confidence and growth to the global economy.

India took over the presidency of G20 in December last year and hosted various events and conferences. The meeting of finance ministers and central bank governors is the first major event of G20 under India’s presidency.