Intervention by President K. V. Kamath at the G20 Finance Ministers and Central Bank Governors Meeting
Thank you Chairman for giving NDB an opportunity to attend this meeting.
We are new and we have said that we will listen, learn and act. This meeting allows us to listen and learn. As far as act, we have finished our initial set up process and we hope to do our first loan in the next quarter.
We will mobilize resources for infrastructure development and promote sustainable development. We will work and collaborate with other MDBs and that will be a key focus area. We will work at speed and reduce the project appraisal cycle without sacrificing quality. We will act swiftly and introduce innovative financial instruments on both the funding and the lending side.
We are aware that the funding needs are large and the capital of the MDBs is limited. At the same time, MDBs work with a low leverage. As a Banker I ask myself a question: can MDBs, with limited capital, leverage themselves keeping in mind the desired credit rating.
These are the approaches we will take.