President Biden to Visit India for G20 Summit; IMF, World Bank Reforms On Agenda
US President Joe Biden will urge reforms to the International Monetary Fund (IMF) and the World Bank that will better serve developing country needs at the G20 summit in Delhi next month, the White House said Tuesday.
Joe Biden will visit India to attend the G20 summit next month, marking his trip to the country after becoming president.
White House National Security Advisor Jake Sullivan said that the two need to offer a better alternative for development support and financing to what he called China’s “coercive and unsustainable lending” through Beijing’s Belt and Road Initiative.
At the G20, Biden “will really focus a lot of his energy while he is there on the modernization of the multilateral development banks, including the World Bank and the IMF,” he said.
White House Press Secretary Karine Jean-Pierre, in a statement, said Biden will travel to New Delhi from September 7-10 to attend the G20 Leaders’ Summit.
President Biden and G20 partners will discuss a range of joint efforts to tackle global issues, including on the clean energy transition and combatting climate change, mitigating the economic and social impacts of Putin’s war in Ukraine, and increasing the capacity of multilateral development banks, including the World Bank, to better fight poverty, including by addressing global challenges.
President Biden, while in New Delhi, will also commend Prime Minister Modi’s leadership of the G20 and reaffirm the U.S. commitment to the G20 as the premier forum of economic cooperation, including by hosting it in 2026.
All Delhi government, Municipal Corporation of Delhi (MCD) offices as well as schools and colleges will remain shut from September 8 till September 10 in the view of G20 summit in the national capital.
Delhi CM Arvind Kejriwal approved the proposal to declare a public holiday from September 8-10. Banks and commercial establishments, including markets, in the New Delhi district will be shut during these three days.
All commercial and business establishments, including banks and financial institutions, located within the jurisdiction of the New Delhi police district will remain closed on September 8-10.
In New Delhi and the National Capital Region (NCR), a total of 35 hotels have been booked by different missions and the Ministry of External Affairs (MEA) for guests and dignitaries who will arrive for the G20 summit on September 9 and 10, according to local sources.
The war between Russia and Ukraine is set to be a topic of discussion at the G20 meet. According to the G20 website, the 18th G20 Heads of State and Government Summit in New Delhi will be a culmination of all G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies.
Top sources say Biden is likely to stay at ITC Maurya, China’s President Xi Jinping is likely to stay at Taj Palace, Taj Maan Singh will host dignitaries from the UAE, Saudi dignitaries will stay at Leela and Le Meridien will host different organisations.
These hotels will be manned by the Delhi Police as the first access control squad for the VIPs and a Deputy Commissioner of Police-level officer will oversee the operations.
A G20 Leaders’ Declaration will be adopted at the conclusion of the New Delhi summit, stating leaders’ commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.