The first G-20 Infrastructure Working Group (IWG) meeting under G20 India Presidency is scheduled to be held during 16th-17th January 2023 in Pune. The forum will bring together the IWG member countries, guest countries and international organisations invited by India to discuss the 2023 Infrastructure Agenda under the Indian G20 Presidency. The meeting will be hosted by the Department of Economic Affairs, Ministry of Finance, Government of India along with Australia and Brazil as the co- chairs.
The G20 Infrastructure Working Group deliberates on various aspects of infrastructure investments, including developing infrastructure as an asset class; promoting quality infrastructure investment; and identifying innovative instruments for mobilizing financial resources for infrastructure investment. The outcomes of the Infrastructure Working Group feed into the G20 Finance Track priorities and promote Infrastructure Development.
The Indian G20 Presidency’s theme of ‘One Earth, One Family, One Future’ sets the tone for the 2023 Infrastructure Agenda under the 2023 Indian G-20 Presidency. The theme underlines the message of equitable growth and aptly ties up with the central agenda of the discussions which is building resilient, inclusive and sustainable urban infrastructure.
In the Pune meeting, discussions will focus on the agenda for the Infrastructure Working Group under the Indian Presidency. The flagship priority to be discussed in this meeting is “Financing Cities of Tomorrow: Inclusive, Resilient and Sustainable”. The theme will focus on various facets of making cities economic centres of growth, financing urban infrastructure, building future-ready urban infrastructure, directing fiscal investments for unlocking private financing for energy-efficient and environmentally sustainable infrastructure and mitigating social imbalances.
On the side-lines, the Pune meeting will also be complemented by a High-Level Workshop on “Financing of Cities of Tomorrow”. The Workshop will discuss relevant themes pertaining to technical and managerial capacity needs to build the Cities of Tomorrow, Investors’ considerations in increasing private financing and the financial capacity needs of Cities of Tomorrow.
The G20 meeting was preceded by a number of Jan-Bhagidari initiatives by the Pune Municipal Corporation and other Pune city stakeholders, including lectures on G-20, seminar on ‘Making Cities Future Ready and Importance of Urban Development’, a G-20 cyclothon, a motorbike rally on National Youth Day, swachhata drive and model G-20 discussions in the educational institutions. The initiative aims to involve people from all walks of life in the whole discussions happening around the G20 meeting.
During India’s G-20 Presidency, the G-20 Infrastructure Working Group will be used as a forum to discuss the challenges that cities face and opportunities that cities will bring in the near future and chart out a course that makes cities more liveable.
The Ministry of Finance will steer the G20 Infrastructure agenda to ensure that the G-20 acts as a global prime mover to envision new ideas and accelerate collective action.