Strong, inclusive, and resilient global recovery and sustainable development was a focus at the G20 Leaders’ Summit
This week, the G20 Heads of State and Government Summit was held in Bali, Indonesia. The Summit had the world’s attention, as we looked to G20 Leaders to tackle the multiple challenges of the war in Ukraine, increasing inflation and the global economic slowdown, and climate change. The role of the G20 as the premier forum for international economic collaboration has never been more critical, nor the need for multilateral action to address global crises.
The Summit is the pinnacle of the G20 process and the final stage, at the Leaders’ level, of the intense work carried out by Ministers, Working Groups, and Engagement Groups throughout the year.
The GI Hub’s work was again included in the G20 Leaders’ Declaration which was released this week at the G20 Bali Summit. The Declaration recognises the progress the G20 has made under the Indonesian Presidency on revitalising infrastructure investment, and endorsed the following work:
- G20/GI Hub Framework on How to Best Leverage Private Sector Participation to Scale Up Sustainable Infrastructure, which sets out opportunity areas and actions for the G20 to enable the private sector to scale up its investments in sustainable infrastructure
- Expansion of the GI Hub InfraTracker (to be released publicly in 2023), which includes tracking of public infrastructure spending to help governments shape programs and budgets that achieve the best economic, social, and environmental outcomes
- G20-OECD Policy Toolkit on Mobilizing Funding and Financing for Inclusive and Quality Infrastructure Investment in Regions and Cities, prepared by the OECD with the support of the Asian Development Bank (ADB)
- G20 Compendium of Case Studies on Digital Infrastructure Finance: Issues, Practices, and Innovation.
The Leaders’ Declaration also noted the Preliminary Findings Report on Gender Inclusive Approaches in Private Participation in Infrastructure, which promotes gender considerations during the infrastructure lifecycle and the prior endorsement of the Quality Infrastructure Investment (QII) Indicators. Lastly, building on the 2021 extension of the GI Hub mandate, the Declaration welcomed the progress the GI Hub made toward developing a possible new governance model for our organisation, a process that began last year in consultation with the G20 and that will help secure the GI Hub’s long-term future while we remain the G20’s dedicated infrastructure entity.
In what has been a challenging year, we recognise and thank the G20 Indonesian Presidency for its leadership in creating priorities that build on the work of previous presidencies, whilst setting clear pathways to a more resilient, inclusive, and sustainable economy – with infrastructure as a key enabler.
From 1 December 2022, India will assume the G20 Presidency, and the GI Hub is looking forward to working closely with the Presidency whose theme is “One Earth, One Family, One Future”.