From Climate Change to World Bank Reform: Biden’s Goals at G20
Joe Biden, the 46th and current President of the United States, is set to attend the G20 (Group of 20) leaders summit in India, which is scheduled for September 9 and 10.
The White House, the official residence and workplace of the president of the United States, said on Tuesday that Biden would talk about climate change, technology, reshaping the multilateral development banks, reforming the World Bank, and infrastructure projects during the G20 leaders summit.
Jake Sullivan, National Security Advisor of the United States, said during a press briefing on Tuesday that “our focus is going to be on delivering for developing countries; making progress on main priorities for the American people, from climate to technology.”
Jake Sullivan also thanked Indian Prime Minister Narendra Modi for holding the G20 summit in New Delhi.
Biden’s Goals at the G20 summit
Climate change is one of the main goals of Biden during the G20 summit. He will urge multilateral development banks to increase lending for climate change projects in order to mitigate the effects of climate change.
Last month, he told reporters, “I don’t think anybody can deny the impact of the climate crisis anymore. Historic floods, intense droughts, extreme heat, and significant wildfires have caused significant damage.”
World Bank reform
Biden will also concentrate on reforming the World Bank, a global financial institution that provides loans to the governments of low- and middle-income countries. Reportedly, the World Bank aims to provide countries with a “credible alternative to China’s coercive and unsustainable lending and infrastructure projects.” The World Bank also aims to become a counterbalance to China’s international financing.
Reshaping the multilateral development banks
Biden will also highlight the need to reform and strengthen multilateral development banks (MDBs) during the G20 summit. MDBs like the International Monetary Fund (IMF) need urgent restructuring in order to tackle global economic crises.
Debt relief to low- and middle-income countries
The US President will also urge G20 countries to provide meaningful debt relief to low and middle income countries amid the inflation.
Digital transformation is also on the agenda. Biden will make calls for more inclusive digital transformation and a responsible approach to Artificial Intelligence (AI).
Welcoming African Union
In a significant shift on the global stage, Biden and Modi are set to welcome the African Union as a permanent member of the G20