Solidarity Statement from India At People’s Dialogue, Cape Town on 31 March 2019 In response to BRICS-led New Development Bank’s 4th Annual General Meeting in South Africa The BRICS led NDB (New Development Bank) is being promoted as an institution that serves as developing economies’ healthy and essential alternative to undemocratic International Financial Institutions (IFIs) …
Continue reading Solidarity Statement from India At People’s Dialogue, Cape Town on 31 March 2019
The Asian region has experienced the emergence of new MDBs over last few years. For many years, the Asian Development Bank was the only development bank in the region and has been dominated by the Japanese owing to the number of votes it has as compared to other members. However, the newly constituted NDB in …
Ulka Mahajan on the Context of the Role of IFIs in the Development Agenda
By Tani Alex For those closely looking at the trajectories of IFIs, especially the current trends of the New Development Bank (NDB) or the BRICS Bank, well, it’s all pancakes and fritters with news of NDB and BRICS Xiamen Summit all around. The Bank, with 11 projects of over $1.5 billion already in their sack …
~ Maju Varghese Every year, India pays an enormous amount of money as commitment charges to the multilateral institutions for not utilising the loans sanctioned by them. Investopedia defines commitment charges as the fee charged by the lender to a borrower for an unused or un-disbursed loan since it has set aside the funds for the …
Continue reading India paid over 600 crores between 2009-2015 to the IFIs for not using their loans
By Maju Varghese The Constitution of India has accorded the Parliament the supremacy among the three organs of the Union government viz legislature, executive, and judiciary. Parliament not only makes the laws but also enables the citizens to participate in controlling the government. The Parliament applies various oversight mechanisms to ensure transparency and accountability in …
Working Group on IFIs 