New Delhi : The Indian Council for Research on International Economic Relations has signed a Joint Declaration of Intent with the Bill & Melinda Gates Foundation, affirming their commitment to accelerating the diffusion of development ideas between India and the world. This initiative aims to establish mechanisms for the transfer of ideas and knowledge by leveraging the momentum generated during India’s G20 Presidency, with emphasis on the following three priorities: Multilateral Development Banks reforms, Digital Public Infrastructure, and Economic Policy for Women-led Development.
A new roadmap for Multilateral Development Banks (MDBs) reforms was presented during India’s G20 Presidency. The ICRIER and Gates Foundation partnership will create a dashboard for monitoring MDBs’ lending practices and benchmarking their performance against dimensions identified by the G20 independent expert group established during India’s Presidency. In partnership with several global think tanks, ICRIER will produce studies summarizing the results ahead of the MDBs’ annual meetings, thereby ensuring that momentum of reforms initiated during India’s G20 Presidency is maintained.
Following the success of the recently concluded G20 Presidency, several countries have sought guidance from India regarding digital identities and fast payment systems. Through this new platform, ICRIER and Gates Foundation aim to respond to these requests, emphasizing the sharing of India’s experience and expertise in DPI-led financial inclusion.
The third area of partnership involves establishing a ‘Network of Practitioners’ to promote women-led development. This network aims to inform Indian policymakers on the urgency of addressing gender issues for realizing the country’s long-term macroeconomic aspirations. Comprising of multi-stakeholder senior officers and industry leaders, this network will facilitate the exchange of experiences and ideas through regular virtual meetings and an annual in-person meeting.
”India has demonstrated some great exemplars, across multiple themes including digital public infrastructure and women-led development, that have the potential to help shape the global development agenda, with a specific focus towards enabling opportunities for learning and diffusion across Global South. We are encouraged by the Government of India’s deep commitment to global partnerships and to sharing India’s lessons and experiences with other countries. We believe that this partnership with the Indian Council for Research on International Economic Relations will facilitate increased engagements across countries and institutions in the Global South and help accelerate progress towards the Sustainable Development Goals, particularly Goals 1-6” said Hari Menon, India Country Director, Bill & Melinda Gates Foundation.
“The success of India’s G20 Presidency has created massive curiosity in developing countries on India’s development story, as well as India’s influence in the global high table. Our partnership with the Bill & Melinda Gates Foundation underscores our commitment to share India’s developmental success and know-how not only within the country but also to the broader international community,” stated ICRIER Director and Chief Executive, Dr. Deepak Mishra.
This partnership represents a significant step towards establishing structured mechanisms for facilitating the exchange of development ideas and know-how between India and the global community.
