First G20 Finance Ministers and Central Bank Governors meet deliberated on international financial architecture, sustainable finance & infrastructure

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The first G20 Finance Ministers and Central Bank Governors meet deliberated on international financial architecture, sustainable finance and infrastructure in Bengaluru on Friday, during the first session. This session was jointly steered by Union Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta Das.

The Finance Minister invited the views of the G20 delegation on how multilateral development banks can be strengthened to address the shared global challenges of the 21st century. She highlighted rising debt vulnerabilities in many countries and sought the views of members on multilateral coordination. She also spoke on India’s priority of financing the cities of tomorrow.

In the afternoon, the second session on Financial Sector and Financial Inclusion was held. On the sidelines of the G20 meet, the Finance Minister met Deputy Prime Minister and Minister of Economy and Finance of South Korea, Choo Kyung ho. The two ministers discussed global issues including the priority of strengthening climate change financing and enhancing bilateral economic cooperation. They also exchanged views on energy security and the importance of a stable supply chain.

Earlier, the Finance Minister had visited the exhibits displaying traditional Indian artifacts and fabrics. Visiting the Tourism department outlet, the Finance Minister took a tour of tourist destinations in Karnataka through 3D virtual reality and augmented reality modules. A 'Ratri Bhoj Par Samvad' and specially curated cultural programmes will also be organised in the evening for the delegates, which will showcase India’s diverse cuisines and culture.