Strengthening MDBs, policy outlook on Crypto on cards at G-20 FinMins, Central Bank Guvs’ meet

New Delhi: Strengthening multilateral development banks (MDBs) to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’ are some of the key agenda items for first G-20 Finance Ministers & Central Bank Governors’ meeting to be held at Bengaluru later this month.

The First Finance Ministers & Central Bank Governors (FMCBG) meeting under the G-20 Indian Presidency is scheduled during February 24-25 and will be chaired by Finance Minister Nirmala Sitharaman and co-chaired by Reserve Bank Governor Shaktikanta Das.

The G-20 FMCBG meeting will be preceded by a meeting of G-20 Finance and Central Bank Deputies (FCBD) on February 22, co-chaired by Economic Affairs Secretary Ajay Seth and RBI Deputy Governor Michael D. Patra.

The meeting will see the participation of Finance Ministers and Central Bank Governors of the G-20 members, invitee members and heads of International Organisations. In total, there will be a delegation of 72 members attending the meeting.

The Indian Presidency has designed the meeting agenda in a manner that can foster a meaningful exchange of ideas among Ministers and Governors on pragmatic and meaningful approaches to address some of the key global economic issues, it

said.

“The meeting will be spread over three sessions on February 24-25, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains,” it said.

The sessions will also cover issues related to global economy, global health, and international taxation, it said, adding, the discussions in the G-20 FMCBG meeting are intended to provide a clear mandate for the various work streams of the G-20 Finance Track in

2023.

“On the sidelines of these meetings, a number of side events have been planned for the visiting Ministers, Governors, Deputies and other delegates, on subjects such as Digital Public Infrastructure, Policy Perspectives on Crypto Assets and the role of National Payment Systems in Cross Border Payments,” it said.

A Ratri Bhoj Par Samvad and specially curated cultural programmes will also be organised for the Finance Ministers, Central Bank Governors and their delegations which will showcase India’s diverse cuisines and culture, it

said.

A special event titled Walk the Talk: Policy in Action is also being organised, during which the Ministers and Governors will visit the Indian Institute of Science (IIS) to engage with tech-innovators and entrepreneurs who are working on affordable and scalable solutions to some of the challenges being faced by G-20 member countries, it said.