India asks for assured financing for development projects

Asks that special windows for ensuring finance be created.

India has also asked the World Bank and other multilateral development banks to include provisions to help projects that face a sudden scarcity of funds due to volatile capital flows.

Finance Minister P Chidambaram said access to this window should be beyond the normal country limits, which otherwise introduce inflexibility.

The aim of this provision should be to create mechanisms that can increase the flow of infrastructure financing at times when other investments are slowing down.

Chidambaram said larger investments in infrastructure in emerging markets will increase the potential of these countries to grow more rapidly in the medium run and will also contribute to a much needed global demand in the short run.