November 12, 2010 11:40 AM

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Mechanism of MAP must be preserved for international co-ordination to avert global meltdown: Montek

The Deputy Chairman of the Planning Commission and India's Chief negotiator at the Seoul G-20 Summit, Montek Singh Ahluwalia said, the mechanism of Mutual Assessment Process, MAP, must be preserved for international co-ordination to avert global meltdown. Talking to Indian media in Seoul media centre, he expressed hope that modalities of the MAP will be worked out by the next G-20 Summit in France in 2011. He said, this is a useful tool for coordination between the surplus and deficit economies and it must have a time line.Dwelling on the issue of recycling of surpluses, Mr Ahluwalia said, the focus will be on facilitating investment in national and regional infrastructure projects. He said, a high level panel will recommend measures to mobilize private, semi-public and public resources for infrastructure investment. Mr Ahluwalia said, Prime Minister Dr Manmohan Singh also favoured at the summit to find mechanisms for innovative financing of the projects.

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