President Biden will also commend PM Modi’s leadership of the G20 and reaffirm the US commitment to the G20 as the premier forum of economic cooperation
Our Bureau
Washington, DC/New Delhi
US President Joe Biden will travel to India on a four-day visit to attend the G20 Leaders’ Summit in September in New Delhi during which he will discuss joint efforts to tackle global issues like climate change, including the Ukraine war with member nations, White House confirmed in a statement on August 22.
It said Biden and G20 partners will also discuss clean energy transition and combating climate change increasing the capacity of multilateral development banks.
India is set to host G20 Summit on September 9 and 10.
US President Joe Biden will “reaffirm US commitment to the G20” as the premier forum of economic cooperation globally and will also speak about a range of issues, including the social effects of Russia’s war in Ukraine, the White House said on Tuesday. White House press secretary, Karine Jean Pierre made the remarks during a media briefing.
Announcing the President’s schedule, Pierre said that Biden “will travel to Hanoi, Vietnam, on September 10 following his participation in the G20 Summit in New Delhi.”
Responding to a question on topline goals President Biden hopes to accomplish at G20, the White House press secretary said, “President Biden will reaffirm the US commitment to the G20 as the premier forum of economic cooperation globally.”
She also said that President Biden will “discuss a range of joint efforts to tackle global issues, from the clean energy transition and combating climate change to mitigating the economic and social impacts of Russia’s war in Ukraine, to increasing the capacity of the multilateral development banks to better fight poverty and take on the significant transnational challenges that are afflicting countries across the world.”
Prime Minister Narendra Modi visited the US in June, where Biden had said he was looking forward to the G20 summit in September in New Delhi. While in New Delhi, President Biden will also commend Prime Minister Modi’s leadership of the G20 and reaffirm the US commitment to the G20 as the premier forum of economic cooperation, including by hosting it in 2026, the White House announced earlier on August 22.
US Secretary of the Treasury Janet L Yellen will participate in the G20 Leaders’ Summit from September 7 to September 10 in New Delhi, the White House (WH) said. On her fourth visit to India in 10 months, Secretary Yellen will focus on strengthening the global economy and supporting low and middle-income countries by advancing the Multilateral Development Bank (MDB) evolution, debt restructuring, and the IMF’s Poverty Reduction and Growth Trust (PRGT).
“Secretary Yellen will continue to build momentum for the collective effort that she helped launched last October to evolve the multilateral development banks so the MDBs have the right vision, incentives, operational models and financing capacity to address critical global priorities like combatting climate change, addressing pandemics and global health security, and tackling fragility and conflict,” the WH said in a release on Thursday.
Treasury estimates that the MDBs as a system could unlock USD 200 billion over the next decade just from the measures already being implemented or under deliberation as part of this process – with the potential for even more if MDBs undertake some of the longer-term and more complex recommendations in the G20 Capital Adequacy Framework report, including on callable capital, according to the official release.
While in New Delhi, Secretary Yellen will continue to rally “America’s partners to maintain our collective economic support for Ukraine, including through contributions from across our coalition.” She will also highlight the importance of imposing severe costs on Russia and mitigating global spillovers, the release said.
Secretary Yellen will also participate in engagements on the margins of the G20 and will hold bilateral meetings with counterparts. “Additionally, she will join the President for several of his engagements on the margins of the meetings,” the release added.
