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Union Finance Minister Smt. @nsitharaman met Mr. Hayashi Nobumitsu, Governor, Japan Bank for International Cooperation #JBIC, on the sidelines of the 56th #ADBAnnualMeeting, in Incheon, today. (1/5)
@IndiainROK
@IndiainROK
FM Smt. @nsitharaman encouraged engagement of JBIC with Indian financial institutions such as Exim Bank @IndiaEximBank, NIIF and lending banks to leverage the strength and complementarities of both countries for facing local, regional and global financial challenges. (2/5)
FM spoke of GoI intiatives towards facilitating #investment, like #PLIs scheme, #NIP, reforms in #GST & Insolvency & Bankruptcy Code #IBC, among others & hoped JBIC will use this enabling environment as an opportunity to expand marine products & seaweed processing in India. (3/5)
Thread: This IMF blog from my brother, @aselassie and co-authors raise serious questions about how to finance African infrastructure and how to increase private participation. This is really, really good.
blogs.imf.org/2021/06/14/how…
blogs.imf.org/2021/06/14/how…
In both practice and research, I've found the barriers and challenges they outline here to hold true. One hopes that their blogpost is both intended to spur debate around these issues and are a departure point for a substantive response to the issues they raised.
So let's discuss at least one of the risks they discuss: "Project Risks" - the lack of bankable projects & investor hesitation to absorb development risks in unfamiliar markets. This is an unchanging refrain when the topic of private investment in Africa comes up. And it's odd.
