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    >@Tibor Jona/EIB

    Finance Ministers and Central Bank Governors of the G20 member countries met in Jakarta, Indonesia under the “Recover Together, Recover Stronger” motto to discuss the G20 response to economic challenges posed by the COVID-19 pandemic and solutions for green, sustainable recovery of G20 economies.

    The G20 is a strategic multilateral platform connecting the world’s major developed and emerging economies. The G20 holds a strategic role in securing future global economic growth and prosperity. Together, the G20 members represent more than 80% of world GDP, 75% of international trade and 60% of the world population. The Republic of Indonesia chairs the G20 in 2022.

    The members of the G20 are: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom, the United States and the European Union. Spain is also invited as a permanent guest.

    Each year, the Presidency invites guest countries, which take full part in the G20 exercise. Several international and regional organisations, including the European Investment Bank, also participate, granting the forum an even broader representation.

    Finance Ministers and Central Banks Governors Meeting 2022

    Starting in 1999 as a meeting for the finance ministers and central bank governors, the G20 has evolved into a yearly summit involving the Head of State and Government.

    This year, the President of the European Investment Bank Werner Hoyer will chair the Heads of Multilateral Development Banks Group at the G20 and work with MDBs to deliver timely and effective solutions for financing of climate action and green COVID-19 recovery projects. President Hoyer is also the chair of the D20 - Long-term Investors Club (D20-LTIC), whose members are the leading financial institutions with a public mandate from the G20 countries.

    The Vice-President of the EIB Gelsomina Vigliotti represented the EIB at the Finance Ministers and meeting in Jakarta, where she addressed the Meeting focusing on the crucial role of the MDBs in financing and accelerating green economic recovery.

    Vice-President Vigliotti said: “The EIB together with other multilateral development banks plays a key role in delivering effective solutions for major challenges of today - climate action, COVID-19 recovery and green economic transformation. MDBs can provide both long-term financing and technical support, and more importantly, a crucial link between public sector and private investors.  As this year`s chair of the group of Heads of Multilateral Development Bank, the EIB will work to steer MDBs to help the Indonesian G20 Presidency deliver on its objective of recover together, recover stronger and secure a green and sustainable future for future generations.”

    The EIB at G20 in 2022

    Throughout the year, the EIB will participate in Ministerial and working-level meetings organised by the Indonesian G20 Presidency, particularly under the Finance Track to bring the MDB point of view on core issues to the table.

    Building on the last year’s G20 Infrastructure Investors Dialogue, the D20-LTIC will contribute to the second conference of infrastructure investors planned in Jakarta on 14-15 July 2022 in close collaboration with the Indonesian G20 Presidency.

    How the G20 works

    The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika, to ensure the continuity of the agenda. Currently Italy, Indonesia, and India are the Troika countries.

    Programme

    (all times are in UTC+7 (Jakarta time))

    • 08.00 — 08.10
      Welcoming Remarks by Minister of Finance of Indonesia 
    • 08.10 — 08.20
      Highlight Agenda of the G20 Indonesian Presidency 
    • 08.20 — 09.50
      Session 1: Global Economy and Health (including Report of the Joint Finance-Health Task Force) 
    • 09.50 — 11.20
      Session 2: International Financial Architecture 
    • 11.45 — 13.00
      Session 3: Financial Sector Issues 
    • 13.00 — 14.00
      Maiden Speech Lunch Talk by Mr. Klaas Knot, Chair of the Financial Stability Board 
    • 14.30 — 17.30
      High-level Seminar: Strengthening Global Health Architecture 
       
    • 10.00 — 10.10
      Opening Remarks by Governor of Bank Indonesia
    • 10.10 — 11.40
      Session 4: Sustainable Finance
    • 11.40 — 13.00
      Session 5: Infrastructure
    • 14.30 — 16.00
      Session 6: International Taxation
    • 16.00 — 16.30
      Communique Adoption
    • 16.30 — 16.45
      Closing Remarks