President Biden met today with Prime Minister Modi of India and President Widodo of Indonesia on the margins of the G20 Leaders' Summit in Bali to reaffirm their shared commitment to the G20 as the premier forum for international economic cooperation. Facing significant global challenges, the Leaders discussed how the G20 continues to demonstrate its collective capacity to bring together major economies to advance sustainable and inclusive growth in our economies and beyond, tackle the ongoing climate, energy, and food crises, strengthen global health architecture and promote technological transformation.
President Biden congratulated President Widodo for Indonesia's leadership to galvanize countries around the world to launch the Financial Intermediary Fund (FIF) for Pandemic PPR hosted by the World Bank (Pandemic Fund) to address gaps in pandemic prevention, preparedness, and response. This success has laid the foundation to take forward substantive health-finance collaborations during India's G20 presidency.
At the meeting, President Biden said the United States will continue to support the G20's global leadership for developing improved and innovative financing models for multilateral financial institutions to provide solutions to challenges like climate change, pandemics, economic fragility, reducing poverty and achieving SDGs, and to support inclusive development, strengthen economic security and global supply chains.They also discussed the importance of leveraging public and private financing to close the infrastructure gap.
President Biden applauded Indonesia's G20 Presidency for its efforts on a successful G20 Leaders' Summit. He looks forward to continuing to support the G20's work under India's Presidency.
