Shaping the Future of Development Finance

Development finance, according to Economic Affairs Secretary Anuradha Thakur, needs to embrace a catalytic and adaptive approach aligned with national priorities. This strategy aims to support innovation, capacity building, and inclusive, sustainable growth, as discussed at the 11th Annual Meeting of the New Development Bank (NDB) in Moscow.

The theme, 'Development Financing in an Era of Technological Revolution,' underscored the necessity for financing technological transformation to align with inclusivity, resilience, and sovereignty. Anuradha Thakur, as the Secretary of the Department of Economic Affairs and Alternate Governor for the NDB, stressed the importance of investing in technology-enabling infrastructure and skills as a cornerstone for sustainable growth.

Thakur also noted that pathways for innovation must be driven by each country's unique context, ensuring that developmental strategies are tailored to local needs and capabilities. This perspective highlights a shift in development financing towards more adaptable, context-aware solutions.

(With inputs from agencies.)