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Finance Minister Nirmala Sitharaman on Thursday met International Fund for Agricultural Development (IFAD) president Alvaro Lario and discussed issues of mutual interests besides some emerging global challenges.

During the meeting, Sitharaman highlighted that multilateral institutions should effectively contribute to ensuring food security by investing in food storage, food processing and making small-size farming remunerative.

She further suggested that participation of emerging economies and developing countries should be ensured in this endeavour and address the new global challenges such as food security, debt distress and climate change.

Sitharaman underlined the need for the multilateral development (MDBs) to take a new and fair review to deal with new and emerging challenges.

While appreciating India's leadership on steering the G20 presidency, Lario updated the finance minister on how IFAD is bringing climate change to the centrestage of the institution.