Finance Minister Nirmala Sitharaman met the first woman Chair of the US Securities and Exchange Commission and Vice of the Climate Finance Leadership Initiative (CFLI) Mary Schapiro in Washington DC today. During the course of this meeting, Sitharaman spoke about her vision of developing GIFT cities as centres for attracting global capital for sustainable finance and asked the CFLI to work closely.
Shapiro updated Sitharaman on the status of flow of private capital into climate-related projects globally and in India. She also discussed the future course of action from the regulatory perspective to attract global private capital into India.
The SEC boss also talked about India’s success in building robust renewable energy markets and said that it is opportune time for India to play a leadership role in shaping global climate finance trends.
Sitharaman also met the Financial Stability Board chair Klaas Knot on the sidelines of the IMF-World Bank Spring Meetings 2022. Both of them discussed dimensions of risk in the crypto eco-system.
The Finance Minister is in Washington to attend the Spring Meetings at the World Bank, meeting with the G20 Finance Ministers meeting and the Central Bank Governor Meeting (FMCBG). This visit also includes several bilateral interactions with Indonesia, South Korea and Sri Lanka and a high-level meeting with World Bank President David Malpass.
(With agency inputs)
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