G-20 Financial Architecture Working Group Meeting Inaugurates In India.

Last updated on November 13th, 2024 at 01:30 pm

The first International Financial Architecture Working Group of G-20 started its two-day meeting in Chandigarh, India, under the chairmanship of India. The meeting inaugurates by Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar, and Minister of Food Processing Industries, Shri Pashupati Kumar Paras.

In his opening remarks, Shri Tomar highlighted India’s commitment to democracy and multilateralism and its efforts towards a people-centric development model.

He also stressed the need for globally coordinated policies and actions to tackle complex global challenges. India’s chairmanship of G-20 is a proud moment and India is ready to fulfill its responsibilities and share its development model with the world, said Shri Tomar.

Minister Shri Paras said India’s goal is to facilitate constructive dialogue and advance progress in the international financial architecture. The working group will explore options to strengthen international financial institutions and address the worsening credit situation in low-income and middle-income countries.

The working group aims to provide aid to the most vulnerable and low-income developing countries, continue efforts to alleviate the insecurity over credit flow, redesign global and financial governance, and find ways to better equip multilateral development banks to meet the global challenges of the 21st century.

The meeting brings together eminent experts from around the world to coordinate G20 efforts towards developmental financing, supporting vulnerable countries, maintaining financial stability, and achieving the goal of ‘One Earth, One Family, One Future’.