G20 summit 2023 pune, Two-day Infrastructure Working Group

On Tuesday in Pune, the G20 Infrastructure Working Group (IWG) conference that was held under the G20 India Presidency came to an end. About 65 representatives from G20 nations, invited nations, and international organizations gathered to debate the 2023 infrastructure agenda during India’s G20 Presidency.

G20 summit 2023 pune

The meeting’s main topic was financing inclusive, resilient, and sustainable cities of the future.

Solomon Arokiaraj, joint secretary, Ministry of Finance, Government of India, provided information of the two-day G20 IWG meeting that took place in Pune during a press conference. He said, “On the first day of the inaugural session, Union Minister Narayan Rane made a statement concerning India’s presidency. The IWG flagship subject was thoroughly discussed in the meetings that followed.

Five main topics are the focus of our work: how to create sustainable cities, resilient cities, inclusive cities, municipal funding requirements, and how cities must plan dynamically with a people-centric approach. The two-day conclave’s primary conversational themes were these.

“The delegates next traveled to SPPU (Savitribai Phule Pune University) for an Asian Development Bank workshop on securing private funding for the construction of urban infrastructure. 14 experts from different nations and organizations participated in three panel discussions. The talk was excellent and had the objective of getting input for the major project we are working on. According to Arokiaraj, they offer models and examples of successful projects.

“Capacity building, specifically how employees of urban and municipal governments or other stakeholders in this ecosystem attract private sector finance, was the second important discussion of this workshop,” he continued.

The two-day IWG sessions were held at the Department of Economic Affairs, Ministry of Finance, and Government of India, and they were co-chaired by Brazil and Australia. The development of infrastructure as an asset class, supporting quality infrastructure investment, and finding cutting-edge financial instruments for infrastructure investment were some of the topics covered by the G20 IWG during its discussions on various elements of infrastructure investments.

Sessions were held in the hotel on the second day. As legacy work is still being done throughout presidencies, the infra tracker was the topic of the first session, and this year we suggested several enhancements. Overall, the two-day meeting was intriguing, and we anticipate that all of the information will be considered at the upcoming meeting in March. Arokiaraj later on.

Regarding the issues raised in relation to the IWG subject, he said, “The one thing that came out was the pace of urbanization is very rapid, everybody is going to look at climate change and reduction of the carbon footprint was the theme around which many of the discussions were done.”