Rio de Janeiro, July 4 -- Speaking at the 10th Annual Meeting of Board Governors of the New Development Bank, Finance Minister Nirmala Sitharaman on Friday suggested that the multilateral development bank should play a catalytic role in unlocking private sector capital.

In her remarks, she suggested that special focus must be placed on tailored support for Small and Medium Enterprises, especially women-led enterprises, to ensure inclusive participation, economic development and promote gender equity.

"Strengthening NDBs' financial capacities to meet the scale and urgency of development financing needs is crucial," she said.

"Actionable steps could be adopted from the Capital Adequacy Framework (CAF) for MDBs, and the Better, Bolder and...