G20 delegates arrive for infrastructure working group meeting in Pune
Jan 15, 2023
Pune (Mumbai) [India], January 15 : Solomon Arokiaraj, Joint Secretary, Department of Economic Affairs, Ministry of Finance on Sunday said that the first infrastructure working group meeting of the G20 is going to happen in Pune and G20 delegates have already arrived.
"The first infrastructure working group meeting of G20 is going to happen in Pune. Today is the welcome dinner for the delegates who have already arrived and tomorrow and the day after tomorrow that is the 16th and 17th will be the official proceeding of the G-20 infrastructure working group," Arokiaraj said on Sunday during a media briefing on the first Infra working group meeting of G-20.
Arokiaraj said that the Infrastructure working group deliberates on various issues related to the infrastructure sector, the challenges, the financing options and various standardisations, and indicators. "So, during different presidencies, different themes have been selected," he said.
"For India's presidency, we have selected the theme of "Building cities of the future that are sustainable, resilient and inclusive'," the joint secretary said.
He said that: "We have chosen this topic because globally, urbanisation is a very important phenomenon and already more than 50 per cent of the population lives in the urban centres and more than 80 per cent of the global GDP is contributed by the urban centres."
Arokiaraj said that in India as well as in various developing economies, urbanisation is going to be a major theme and trend which we are going to see for the next 20-30 years. It is a huge opportunity for economic growth. At the same time, there will be challenges.
"To deliberate on the challenges, India has chosen the theme, building cities of the future that are sustainable, resilient and inclusive'," he said.
The IWG meeting will bring together the member countries of the forum, guest countries and international organisations invited by India to discuss the 2023 Infrastructure Agenda under India's G20 Presidency and will be hosted by the Department of Economic Affairs, Ministry of Finance, along with Australia and Brazil as the co-chairs, the official statement of the Ministry of External Affairs read.
The G20 Infrastructure Working Group will hold discussions on a range of topics related to infrastructure investments, such as establishing infrastructure as an asset class, supporting high-quality infrastructure investment, and locating novel methods for raising money for such projects.
The discussions will focus on the agenda for the Infrastructure Working Group under the Indian Presidency, according to the official statement. The theme will focus on various facets of making cities economic centres of growth, financing urban infrastructure, building future-ready urban infrastructure, and directing fiscal investments for unlocking private financing for energy-efficient and environmentally sustainable infrastructure.
