New Delhi [India], August 12 (ANI): BRICS economies need to build greater confidence, stability, predictability and credible long-term frameworks to unlock sustained private capital flows at scale, Union Finance Minister Nirmala Sitharaman said on Wednesday, highlighting the role of multilateral development banks in de-risking investments and improving project bankability. Addressing a seminar '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' Meeting in Jaipur, Sitharaman said BRICS economies are major growth engines of the global economy but face common structural constraints in mobilising private capital. Sitharaman said multilateral development banks have a critical role in de-risking investments, enhancing the bankability of projects and strengthening investor confidence, thereby helping mobilise private capital at scale. Sitharaman emphasised that public capital should act as a catalyst rather than a substitute for private investment. To support this approach, the government has introduced measures including Viability Gap Funding, the Hybrid Annuity Model, credit enhancement mechanisms, Infrastructure Investment Trusts, the National Infrastructure Pipeline and PM Gati Shakti.