March 14, 2013 9:31 AM

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G-20 must recapitalise multilateral development banks to fund infra projects: Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Wednesday that G-20 countries should recapitalise multilateral development banks to fund infrastructure projects. Mr Ahluwalia said multilateral development banks, especially the World Bank, should significantly expand their lending for infrastructure development in the developing economies. He also said that G-20 nations, that contribute about 80 per cent to the global gross domestic product, have played a successful role in combating global financial crisis.Mr Ahluwalia was speaking at a meeting in New Delhi organised to gather industry inputs in the run-up to the St. Petersburg G-20 Summit to be held in September.

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