G20 goes virtual today, chaired by Saudi King Salman

2020 G20 Focus

Empowering People

- Unleashing Access to Opportunities for all by breaking barriers preventing underserved groups’ access to opportunities;

- Boosting financial inclusion of women and youth Concrete actions to finance the 2030 sustainable development agenda;

- Promoting accessible, safe and person-centric health systems;

- Creating inclusive tourism destinations

Safeguarding the Planet

- Creating cleaner and more sustainable energy systems for a new era and practical approaches to manage emissions;

- Focusing on energy access and the use of all energy sources to promote sustainable development;

- Minimizing land degradation by reforesting the planet;

- Improving global water management, and reducing global food loss and waste

Shaping new Frontiers

- Utilizing technology in infrastructure;

- Delivering a global solution to tax challenges from digitalization;

- Developing smart cities and creating trustworthy Al;

- Harvesting the benefits from the entry of BigTech in finance;

- Tackling emerging risks, and ensuring cyber resilience

Achievements of the Saudi G20 Presidency

Date

Detail

March 26

G20 leaders held an extraordinary summit chaired by King Salman bin Abdulaziz to discuss ways in coordinating global efforts to combat the coronavirus pandemic and reduce its humanitarian and economic impact.

March 31

G20 Trade Ministers agreed to keep their economies open and ensure the continued flow of supplies, medical equipment and other vital goods as the world struggles with the fast-spreading coronavirus.

April 11

G20Energy Ministers committed to ensuring that the energy sector continues to make a full and effective contribution to overcoming the Corona pandemic and supporting the subsequent global recovery.

April 15

Saudi Finance Minister Mohammed Al-Jadaan said the G20 has allocated $7 trillion to deal with the fallout from the Corona virus, adding that financial assistance has been provided to developing countries, revealing that the G20 has allocated $1 trillion to poorest countries to cope with the epidemic.

Al-Jadaan noted that the Kingdom, as the head of the group, submitted a plan to postpone the debt of the poorest countries, and it was approved by the group, adding that the debt suspension is large and will provide immediate liquidity of more than $20 billion, and will last for a year, which is unconditional, and requires only the involvement of countries with the IMF.

June 26

41 countries, including 26 African countries, have announced that they will benefit from the G20 initiative to suspend debt service payments, out of a total of 73 countries eligible for IDA loans and those listed by the United Nations as 'least developed'.

Sept 29

Energy ministers of the G20 countries praised the role of the King Abdullah Petroleum Studies and Research Center (KAPSARC) in issuing the Circular Carbon Economy Guide in collaboration with a number of international organizations.

Sept 30

The Kingdom's Presidency of the G20 and the International Monetary Fund (IMF) concluded a high-level virtual conference on "enhancing opportunities in Arab countries" by highlighting possible solutions to achieve a strong, sustainable and comprehensive economic recovery, particularly, after the emerging Coronavirus pandemic.

Oct 15

Finance ministers and central bank governors of the G20 countries have agreed to extend the suspension of debt service payments for six-month period due to continued liquidity pressures while addressing debt vulnerabilities gradually, and will examine the economic and financial situation to see if the initiative needs to be extended for an additional six months.

Nov 13

Finance ministers and governors of the G20 central banks endorsed the “Joint Debt Treatment Framework beyond the scope of the Debt Service Suspension Initiative”which is also approved by Paris Club and confirmed that they remain committed to implementing the debt service suspension initiative to provide the greatest possible support to countries authorized to benefit from the initiative.