Opportunities galore to invest in green energy: Economic Affairs Secretary
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There are huge opportunities to scale-up investments in India's key priority areas including green energy and urban infrastructure, Economic Affairs Secretary Ajay Seth said on Monday.
Addressing a joint workshop on "Enhancing MDBs' engagement with India's public and private sector", organised by Department of Economic Affairs, multilateral development banks (MDBs), the Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB) and International Fund for Agriculture Development (IFAD), he also suggested that along with financing, MDBs should focus on finance plus elements, to bring measurable value addition to projects beyond the normal course.
He exhorted the MDBs to explore more private sector investment opportunities to facilitate further crowding-in of private financial resources.
Seth also appreciated the growing portfolio of investment by the young MDBs in India.
The joint workshop was also addressed by AIIB Vice President Urjit Patel, NDB's India regional office Director General D.J. Pandian, and IFAD Country Director Ulac Demirag.
These officials also shared their vision and ideas to explore new investment avenues in both public and private sector, as well as the potential for co-financing and collaboration among MDBs.
