Page 8 - The Indian EYE 090823-

NATION SEPTEMBER 08, 2023 | The Indian Eye 8

Economy, climate and Ukraine

on agenda as Biden and Yellen go

to India for G20 meeting

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
S President Joe Biden will
travel to India on a four-day
Uvisit to attend the G20 Lead-
ers’ 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 state-
ment on August 22.
It said Biden and G20 partners
will also discuss clean energy transi-
tion 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 “re-
affirm US commitment to the G20”
as the premier forum of economic
cooperation globally and will also Union Finance Minister Nirmala Sitharaman with US Treasury Secretary Janet Yellen addresses the media before the commencement
speak about a range of issues, includ-
ing the social effects of Russia’s war of 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) in Gandhinagar recently (ANI)
in Ukraine, the White House said on
Tuesday. White House press secretary, opment banks to better fight poverty ing the global economy and support- part of this process – with the poten-
Karine Jean Pierre made the remarks and take on the significant transna- ing low and middle-income countries tial for even more if MDBs undertake
during a media briefing. tional challenges that are afflicting by advancing the Multilateral Devel- some of the longer-term and more
Announcing the President’s countries across the world.” opment Bank (MDB) evolution, debt complex recommendations in the
schedule, Pierre said that Biden “will Prime Minister Narendra Modi restructuring, and the IMF’s Poverty G20 Capital Adequacy Framework
travel to Hanoi, Vietnam, on Septem- visited the US in June, where Biden Reduction and Growth Trust (PRGT). report, including on callable capital,
ber 10 following his participation in had said he was looking forward to “Secretary Yellen will continue to according to the official release.
the G20 Summit in New Delhi.” the G20 summit in September in New build momentum for the collective While in New Delhi, Secretary
Responding to a question on Delhi. While in New Delhi, President effort that she helped launched last Yellen will continue to rally “Ameri-
topline goals President Biden hopes to Biden will also commend Prime Min- October to evolve the multilateral de- ca’s partners to maintain our collec-
accomplish at G20, the White House ister Modi’s leadership of the G20 velopment banks so the MDBs have tive economic support for Ukraine,
press secretary said, “President Biden and reaffirm the US commitment the right vision, incentives, operation- including through contributions from
will reaffirm the US commitment to to the G20 as the premier forum of al models and financing capacity to across our coalition.” She will also
the G20 as the premier forum of eco- economic cooperation, including by address critical global priorities like highlight the importance of imposing
nomic cooperation globally.” hosting it in 2026, the White House combatting climate change, address- severe costs on Russia and mitigating
She also said that President announced earlier on August 22. ing pandemics and global health secu- global spillovers, the release said.
Biden will “discuss a range of joint US Secretary of the Treasury rity, and tackling fragility and conflict,” Secretary Yellen will also partici-
efforts to tackle global issues, from Janet L Yellen will participate in the the WH said in a release on Thursday. pate in engagements on the margins of
the clean energy transition and com- G20 Leaders’ Summit from Septem- Treasury estimates that the the G20 and will hold bilateral meet-
bating climate change to mitigating ber 7 to September 10 in New Delhi, MDBs as a system could unlock USD ings with counterparts. “Additionally,
the economic and social impacts of the White House (WH) said. On her 200 billion over the next decade just she will join the President for several
Russia’s war in Ukraine, to increasing fourth visit to India in 10 months, Sec- from the measures already being im- of his engagements on the margins
the capacity of the multilateral devel- retary Yellen will focus on strengthen- plemented or under deliberation as of the meetings,” the release added.

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