G20 nations agreed on effective CAF measures of MDBs which will produce US$200 billion in the next 10 years: Nirmala Sitharaman

The Minister said that CAF recommendations are focused on instigating MDBs to use their existing resources efficiently.

"The roadmap estimates that implementation of CAF measures will potentially yield additional lending headroom of approximately US$200 billion over the next decade," stated Sitharaman.

Listing out the achievements of the finance track during the 10 months of India's G20 Presidency, she said that the G20 countries have agreed on bigger, better and more effective MDBs to address the shared global challenges of the 21st century.

The Minister noted that through these achievements, India has harnessed the opportunity provided by the G20 Presidency to effectively articulate and embed the priorities of the Global South in the larger global conversation on MDB reforms.

The Minister further said that the global push for clearer policies on crypto assets has gained momentum under the Indian G20 Presidency and a global consensus is emerging on the same.

"The Presidency with the support of IMF and FSB (Financial Stability Board) is setting the contours of the regulatory framework for a globally coordinated approach to crypto assets," she said.

The Minister underscored the significance of Digital Public Infrastructure (DPI) in promoting financial inclusion and productivity gains.

He further highlighted that India has achieved a remarkable feat by developing all three foundational DPIs, including digital identity, through India Stack, thereby becoming the first country to do so.