JAIPUR, India — BRICS economies serve as primary engines of global economic expansion, yet they continue to encounter shared structural barriers when attempting to attract large-scale private investment, according to India’s Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman.

Delivering her keynote address at a seminar titled “Role of the New Development Bank in Mobilising Private Capital in Member Countries” on the sidelines of the BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting, Sitharaman emphasized the essential role Multilateral Development Banks (MDBs) play in de-risking projects, improving bankability, and bolstering investor trust to mobilize capital effectively.

Sitharaman noted that the core hurdle goes beyond capital availability, requiring instead the establishment of predictable, stable, and transparent long-term governance structures to secure ongoing private sector involvement across member nations. She concluded by reiterating that the evolution of development finance relies on collaborative partnerships that leverage the unique strengths of governments, multilateral entities, and private industry.

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