SRINAGAR, SEPT 29: Jammu and Kashmir Chief Minister Omar Abdullah held a meeting with Ashwani K. Muthoo, Director General of the Independent Evaluation Office (IEO) of the BRICS New Development Bank (NDB), during which discussions were held on the Bank’s functioning and possible avenues for supporting development initiatives in Jammu and Kashmir.
Muthoo briefed the Chief Minister on the work and mandate of the NDB and its Independent Evaluation Office.
The IEO independently evaluates the Bank’s policies, strategies, programmes and operations with the objective of strengthening development effectiveness, accountability, learning and the impact of NDB-supported interventions.
During the interaction, opportunities for greater development-oriented engagement with Jammu and Kashmir were explored, with the focus on identifying areas where institutional financing, technical expertise and international development experience could contribute to the Union Territory’s infrastructure and economic priorities.
The meeting assumes significance as the NDB has been increasingly focusing on sustainable development, infrastructure investment, resilience, innovation and reducing inequalities across its member countries.
At the 18th BRICS Summit held in New Delhi earlier this month, BRICS leaders reiterated support for the NDB’s role in addressing development priorities and infrastructure needs in emerging markets and developing countries.
The discussions also provide scope for examining how J&K’s development requirements could be aligned with broader multilateral development financing frameworks, particularly in sectors requiring substantial long-term investment and sustainable infrastructure.
The NDB’s Independent Evaluation Office, which was established to strengthen evidence-based assessment of the Bank’s interventions, operates independently of NDB management and reports directly to the Bank’s Board of Directors. Its current strategy places emphasis on evaluating NDB-financed projects, strengthening self-evaluation capacities, generating lessons for policies and strategies, and promoting a results-oriented development culture.
For Jammu and Kashmir, such engagement could potentially open discussions around development priorities requiring enhanced institutional and financial support.
The Union Government’s Department of Economic Affairs also identifies coordination with States and Central Ministries for accessing external assistance and facilitating project preparation and technical assistance, including for Himalayan States, within its multilateral-institutions framework.
The interaction comes at a time when the J&K Government is seeking greater focus on infrastructure, investment, connectivity and sustainable economic development, while also pursuing restoration of full statehood for the Union Territory. The Legislative Assembly on September 28 passed a resolution seeking restoration of statehood.
The meeting between the Chief Minister and the NDB official therefore provided an opportunity to discuss development financing, institutional cooperation and potential avenues through which multilateral development expertise could be leveraged for Jammu and Kashmir’s long-term growth.
