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Piyush Goyal: Horizon of NDB should be expanded to strengthen social infra

The New Development Bank (NDB) is a multilateral development bank aimed at funding sustainable development projects in the BRICS nations.

By: ENS Economic Bureau | New Delhi |
August 19, 2021 3:23:09 am
Commerce minister, piyush goyal, India big businesses, india small businesses, India startups, tata group, indian express, indian express newsIndustry and Commerce Minister Piyush Goyal (File)

Commerce Minister Piyush Goyal Wednesday called for the NDB to expand its horizons to fund service delivery in the education and health sectors besides funding infrastructure and industry development.

The New Development Bank (NDB) is a multilateral development bank aimed at funding sustainable development projects in the BRICS nations. It has committed funding to a number of major infrastructure projects in India, including the Mumbai Metro rail and many renewable energy projects, besides a $1-billion emergency assistance loan for economic recovery post Covid-19.

“The horizon of NDB should be expanded and resources be utilized for strengthening social infrastructure, especially for funding service delivery in education and health sector, besides promotion of infrastructure and industrial sector,” Goyal said at the 5th meeting of BRICS industry ministers.

He added the vision of an Aatmanirbhar Bharat was “engaging with the world with a spirit of competitiveness.”

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