G20 Summit: To ensure better global governance PM Modi calls for reform in multilateral organizations


Prime Minister Narendra Modi on Sunday reiterated the need to reform multilateral organizations to ensure better global governance for rapid recovery after Kovid-19 at the G20 summit.

PM Modi also highlighted India's efforts for inclusive development through participation in his address on the second and last day of the summit. Saudi Arabia is hosting the G20 summit. The conference is being held online due to Coronavirus infection.

The Prime Minister tweeted that it was an honor to address G-20 partners again on the second and last day of the virtual summit organized by Saudi Arabia.

Modi made several tweets addressing the summit of 20 countries with leading economies. He reiterated the need to reform multilateral organizations to ensure better global governance for rapid recovery after Kovid-19.

At the summit, he also emphasized that India will be a strong pillar of the booming economy and global value chains after Kovid-19.

The Prime Minister said in another tweet that underlined India's civilizational commitment to harmony between humanity and nature and our success in increasing renewable energy and biodiversity.

G20 leaders commit to the affordable diagnosis of Kovid-19

Leaders of G20 member countries, including Prime Minister Narendra Modi, on Sunday, stressed that no effort will be left to make the diagnosis, treatment, and vaccines available for all in an affordable and equitable manner. He also pledged to use all possible policy tools to protect people's lives, jobs, and income in the wake of the epidemic.

The final manifesto was released after a two-day conference of leaders of the G20 member countries. The conference was also attended by Prime Minister Narendra Modi, US President Donald Trump, and Chinese President Xi Jinping.

The leaders also announced that India would host the group's conference in 2023. The leaders' manifesto at the G20 Riyadh conference was released at the conclusion of the conference of heads of state or heads of the world's top 20 economies.

In this, the leaders have said that the global economy has been severely affected due to the pandemic in 2020, while global economic activity has increased partially and "our economies are slowly reopening and the positive effects of our important policy initiatives have fructified." Are starting to happen ''.

However, he also said that the recovery of the economy is 'uneven, highly uncertain, and dependent on rising downside risks'. The G20 leaders also supported the anti-money laundering/counter-terrorism financing policy details of which are in the FATF's letter on Kovid-19.

He reiterated his support for the 'Financial Action Task Force' (FATF) as a global standards-setting unit for the prevention of funding, funding of terrorism, and funding for arms proliferation.

The leaders said in the manifesto, "We reiterate our strong commitment to deal with all sources, techniques, and mediums of these threats. We also reiterate our commitment to strengthen FATF's global network of regional units, including supporting their expertise in cross-assessment and calling for a thorough, effective, and expeditious implementation of FATF's global standards. "

G20 leaders also said that the Kovid-19 epidemic and its unprecedented impact in terms of people's lives, livelihood, and the impact on the economies have given such a shock that preparedness and action have brought fragility and shared challenges.

He said after deliberating on several issues related to the pandemic in the last two days, "We are committed to supporting all developing and underdeveloped countries as they face the health, economy, and social impacts of Kovid-19 together." Have had to do it.

The leaders noted specific challenges in Africa and small island developing states. The leaders of the group committed to focusing on the remaining global financial needs. The leaders also announced that India would host the group's conference in 2023. It was decided to host India first in 2022.

The event in India was announced in 2022 in the G20 manifesto in Osaka last year. However, the Riyadh manifesto said on Sunday, "We look forward to our upcoming conferences in Italy in 2021, in 2022 in Indonesia, in 2023 in India, and in 2024 in Brazil."