New Delhi, 3rd December 2024: India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), hosted the IVCA GreenReturns Summit in New Delhi.
Shri N.K Singh, Former Chairman of the 15th Finance Commission, and Former Member of Parliament, Government of India, was joined by Shalabh Tandon, South Asia Regional Head of Operations and Climate Change, IFC, for a fireside chat on significant MDB reforms.
Discussing the recognition of MDBs and de-risking capital, Shri N.K Singh said, “The blended capital and blended finance have an important role to play. Hybrid capital has come into play and has the issue of guarantee. For the first time, the MDBs have recognised a target, although I wish it was not so modest as $20 billion in terms of guarantees, as we were hoping it would be much more. I think the fact that MIGA has been brought in to have an interplay with the IFC is a very positive step. De-risking capital, which is the first loss guarantee, needs to be talked about more. The issue of how to de-risk and how to improve this sentiment to be able to harness private capital where the uncertainties are somewhat mitigated by actions of the MDBs, I think are laudable steps. ”
Establishing strategic frameworks for climate adaptation and resilience, IVCA GreenReturns Summit aims to increase the flow of commercial and impact capital. To form effective market frameworks, industries must attain economic viability by collaborating closely with policymakers and mobilising climate funding. A pivotal platform for encouraging interactions, IVCA GreenReturns Summit seeks to align climate finance with impactful investments and unlock opportunities for strategic partnerships by hosting meetings with a range of investors and policymakers.
About Shri NK Singh, President, Institute of Economic Growth; Co-Convener, G20 Expert Group on MDB Reforms; and Chairman, 15th Finance Commission of India
Shri NK Singh is a prominent Indian economist, academician, and policy interlocutor. He is currently the President of the Institute of Economic Growth, and Co-Convener of the G20 Independent Expert Group for the reforms of multilateral development banks. He was Chairman of the 15th Finance Commission and presided as Chairman of the Fiscal Responsibility and Budget Management Review Committee (FRBM). Shri Singh was a member of the Upper House of Parliament, the Rajya Sabha, from 2008 to 2014. He was Expenditure Secretary, Revenue Secretary, Member of the Planning Commission, and Secretary to the Prime Minister of India, besides holding other senior leadership roles. He is intermittently connected with a number of think tanks like the Columbia University’s Raj Centre for Indian Economic Policies, and is Member of the Ananta Aspen’s Board of Trustees; Senior Adviser to the Observer Research Foundation (ORF); and a Distinguished Fellow at the Centre for Social and Economic Progress (CSEP). Shri Singh is the author of several books like his autobiography, Portraits of Power: Half a Century of Being at Ringside, as well as Recalibrate: Changing Paradigms, The New Bihar, and Not by Reason Alone: The Politics of Change.