#ADBAnnualMeeting: Sitharaman participates in Governors' Plenary Meeting

New Delhi: Finance Minister Nirmala Sitharaman attended the Governors' Plenary Meeting as the Governor of India on Thursday, said the Finance Ministry in a tweet. The plenary meeting was based on the theme, "Boosting ADB’s Lending Capacity", held on the sidelines of the 56th Annual ADB Meeting.

ADB seeks guidance on several issues

"During the discussions, the multilateral bank agency sought the Governors’ guidance on issues like Risk Appetite, Callable Capital, Charter Lending Limit, Hybrid Capital, and Shareholder Guarantees, which ADB has been examining as part of its review of the bank’s Capital Adequacy Framework," said the Ministry.

India encourages ADB to explore adopting innovative approach for lending to DMCs

Sitharaman expressed hope that the open discussions in the Plenary will lead to common ground and resolution of many issues and provide the appropriate guidance to the bank, it added. She said that India encourages ADB to explore adopting innovative, risk-factored approach for lending to the DMCs, taking into account the risk profile of countries backed by in-depth country diagnostics and analysis.

"Sitharaman also indicated India's support to remove the Charter Lending Limit from the ADB Charter altogether and relocating the limitation to the Board of Directors-approved Capital Adequacy Framework (CAF)," said the Ministry in a tweet.

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