External Affairs Minister Dr S. Jaishankar participated in the G20 Foreign Ministers’ Meeting held in New York yesterday on the margins of the UN General Assembly. The meeting was chaired by Brazil President Lula da Silva.

Speaking as a Troika member, Dr Jaishankar highlighted India’s views on the three key areas of global governance reform. These are reforms of the UN and its subsidiary bodies, reforms of the international financial architecture, and reforms of the multilateral trading system.

The External Affairs Minister recalled that significant strides were made during India’s G20 Presidency, wherein the leaders had called for expanding development and climate finance. The leaders had encouraged multilateral development banks (MDBs) to refine their vision, incentive structures, operational approaches, and financial capacities to maximise their developmental impact. The Brazilian Presidency’s 2024 G20 Roadmap for better, bigger, and more effective MDBs builds on the New Delhi mandate and the recommendations of the 2023 G20 Independent Expert Group on Strengthening MDBs.