News Update

India, BRICS bank to co-host seminar on social infra financing & digital tech

By TIOL News Service

NEW DELHI, MAY 11, 2021: THE Department of Economic Affairs and the New Development Bank (NDB) announced on Tuesday they will jointly organise a virtual seminar on social infrastructure financing and use of digital technologies on May 13 as part of India's chairmanship of the BRICS (Brazil, Russia, India, China and South Africa) grouping.

"The COVID-19 pandemic has reinforced the importance of investing in social infrastructure and underpinned the importance of leveraging digital technologies in both advanced and emerging economies. The challenges faced, are common to all, especially to the BRICS nations," said an official statement.

The seminar will engage high-level participants from both public and private sector and will focus on the key issues surrounding social infrastructure financing and the use of digital technologies in the 21st century.

"There is a great potential in building sustainable mechanism to chart the way forward and share the common benefits associated with social, economic and digital development," it added.

The virtual seminar will hold panel discussions and two thematic sessions, covering topics such as the importance of investing in social infrastructure to promote sustainable development, steps for tackling challenges related to social infrastructure financing and ways to de-risk the projects to enhance private sector participation.

The participants will also discuss the value of integrating digital technology into social infrastructure to enhance delivery of health and education in the post-COVID-19 recovery and explore the range of viable models and instruments for financing social infrastructure in the BRICS countries.

Economic Affairs Secretary Mr Ajay Seth will make the inaugural address followed by NDB President Mr Marcos Troyjo. The keynote will be delivered by Mr Jeffrey D Sachs, Director of the Center for Sustainable Development, Columbia University.