G20's First Infrastructure Working Group Meeting was help in Pune on January 16-17, 2023. The meeting was hosted by the Department of Economic Affairs, Ministry of Finance, Government of India along with Australia and Brazil as the co- chairs. The primary agenda of the meet was Financing Cities of Tomorrow: Inclusive, Resilient and Sustainable. The meeting was attended by 64 delegates from 18 member countries, 8 guest countries and 8 international organizations. 

The G20 Infrastructure Working Group discusses various aspects of infrastructure investments, such as the creation of an asset class for infrastructure; promoting high-quality investments in infrastructure; and locating novel instruments for raising funds for infrastructure investment.

Shri Narayan Rane, Minister Ministry of Micro, Small and Medium Enterprises, Government of India presided over the first session of the meeting. The focus was on various facets of making cities economic centres of growth, financing urban infrastructure, building future-ready urban infrastructure, directing fiscal investments for unlocking private financing for energy-efficient and environmentally sustainable infrastructure and mitigating social imbalances.

During the two-day meeting, the IWG also discussed ways to collate data on infrastructure spending and make it useful for the private sector, as well as explored the role of cities in meeting sustainability targets and directing fiscal investments for unlocking private financing for energy-efficient and environmentally sustainable infrastructure.

On the side-lines, the Pune meeting was also complemented by a High-Level Workshop on “Financing of Cities of Tomorrow” wherein over 15 international experts discussed the issues related to financing of the cities. The Workshop discussed how the cities of tomorrow must tie together their key administrative functions ,planning, funding, and financing – to increase private sector participation. Divided into three inter-related sessions, the workshop focused on the infrastructure, and related technical and managerial capacity needs to build the Cities of Tomorrow. The Workshop also discussed how cities and higher governments could prepare themselves to increase private financing for Cities of Tomorrow.

In a follow up to IWG meet, several public outreach events were organised including lectures, cyclothon, cleanliness drive, model #G20 for students & seminar on ‘Making Cities Future Ready’. Also, Local products and traditional crafts were exhibited on the sidelines of G20 IWG meeting. The G20India exhibition featured millets, traditional art & textiles and local products also showcased Indian innovations to #G20 delegates.

Reference

• https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1891844#:~:text=The%20first%20G20%20Infrastructure%20Working,countries%20and%208%20international%20organisations

• https://www.g20.org/en/media-resources/press-releases/january-2023/fiwg/