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Tuesday, April 23, 2024

Modi-Biden discuss sustainable, inclusive growth: White House

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Bali: Prime Minister Narendra Modi and US President Joe Biden met here on the margins of G-20 Leaders’ Summit and discussed how the G-20 can bring together major economies to advance sustainable and inclusive growth.

President Biden met today with Prime Minister Narendra Modi and President of Indonesia Joko Widodo on the margins of the G20 Leaders’ Summit in Bali, a White House statement said later.

The leaders met to “reaffirm their shared commitment to the G20 as the premier forum for international economic cooperation,” the statement added.

“Facing significant global challenges, the Leaders discussed how the G20 continues to demonstrate its collective capacity to bring together major economies to advance sustainable and inclusive growth in our economies and beyond, tackle the ongoing climate, energy, and food crises, strengthen global health architecture and promote technological transformation,” the statement added.

President Biden congratulated President Widodo’s leadership to galvanize countries around the world to launch the Financial Intermediary Fund (FIF) for Pandemic PPR hosted by the World Bank (Pandemic Fund) to address gaps in pandemic prevention, preparedness, and response.

This success has laid the foundation to take forward substantive health-finance collaborations during India’s G20 presidency, the White House statement said.

At the meeting, Biden said the United States will continue to support the G20’s global leadership for developing improved and innovative financing models for multilateral financial institutions to provide solutions to challenges like climate change, pandemics, economic fragility, reducing poverty and achieving SDGs, and to support inclusive development, strengthen economic security and global supply chains.

The leaders also discussed the importance of leveraging public and private financing to close the infrastructure gap.

Biden looks forward to continuing to support the G20’s work under India’s Presidency, the statement said.

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