During the G20 Summit in New Delhi, India s Finance Minister Nirmala Sitharaman announced that the forum had reached a consensus on strengthening multilateral development banks (MDBs). This includes boosting the World Bank s financing capacity and forming an independent panel for MDBs capital adequacy framework. The G20 also endorsed a roadmap for implementing the recommendations of the independent review of MDBs capital adequacy frameworks.
The G20, meeting under India s leadership, has reaffirmed its commitment to zero tolerance for corruption. The group called for stronger international cooperation and information sharing in law enforcement to combat corruption. They also emphasized the need to strengthen asset recovery mechanisms and promote integrity in public bodies. Declaration also looks forward to enlarging participation to the OECD Anti-Bribery Convention.
The declaration was adopted after prolonged negotiations on the outcome document that had been held up over a reference to Ukraine. | Latest News India
G20 leaders have agreed to accelerate energy transitions in order to achieve climate objectives. They will support innovation, technology transfer, and low-cost financing to foster clean and sustainable energy. The leaders also emphasized the importance of uninterrupted energy flows, energy security, and market stability. Developing countries will be supported in their transitions to low carbon emissions through low-cost financing.