Prime Minister Modi and President Biden Co-Chair Event on PGII and IMEC at G20 Summit
New Delhi, India – September 9, 2023 – In a historic event, Prime Minister Narendra Modi and President of the United States, Joe Biden, jointly chaired a special session focused on the Partnership for Global Infrastructure and Investment (PGII) and the India-Middle East-Europe Economic Corridor (IMEC). This event took place on September 9, 2023, on the sidelines of the G20 Summit held in New Delhi.
The primary objective of this event was to facilitate increased investment in infrastructure development and enhance connectivity across India, the Middle East, and Europe, encompassing various dimensions.
Dignitaries from prominent nations and organizations, including the European Union, France, Germany, Italy, Mauritius, the United Arab Emirates (UAE), Saudi Arabia, and the World Bank, participated actively in this significant event.
PGII is a developmental initiative with the dual goals of narrowing the infrastructure gap in developing nations and expediting global progress towards the Sustainable Development Goals (SDGs).
IMEC comprises an Eastern Corridor linking India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It encompasses a comprehensive network involving railways, ship-rail transit, and road transport routes.
During his address, Prime Minister Modi emphasized the critical importance of physical, digital, and financial connectivity. He asserted that IMEC would play a pivotal role in fostering economic integration between India and Europe while promoting sustainable development globally.
In a remarkable display of international cooperation, an MOU on IMEC was signed by India, the United States, Saudi Arabia, UAE, the European Union, Italy, France, and Germany.
The event underscored the commitment of these nations to infrastructure development, connectivity, and sustainable growth, setting the stage for transformative economic progress and global collaboration.
