Union Minister for Finance and Corporate Affairs Nirmala Sitharaman held a meeting with the Asian Infrastructure Investment Bank (AIIB) delegation, comprising 11 officials of the Board of Directors of AIIB from 9 different constituencies, senior representatives of the AIIB Management and AIIB staff visiting India for the Board group visit, in New Delhi, yesterday. Key purpose of the AIIB Board visit India is to provide the Board of Directors a holistic insight into the AIIB's ongoing and planned investments in its member countries and provide an opportunity to engage with the government, private sector and other stakeholders.
Sitharaman mentioned that India's experience of digital transformation can serve as a model for other countries seeking to harness digital solutions for inclusive growth and also India's rich experience of disaster management, which can be of value to several vulnerable economies. The Union Finance Minister stressed on the fact that India has a lot to offer in terms of sectoral best practices and AIIB should develop an institutional mechanism to facilitate transfer of knowledge and technology from India to other similarly placed countries. Sitharaman further suggested that AIIB should strive for greater provision of innovative financial tools and models and scale up its efforts for private capital mobilisation and assured the AIIB of India's full support and cooperation in this regard and added that India could act as a sandbox for AIIB's piloting of innovative financing models and technologies.
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