Minister of Finance Stresses Full Support for the G20 Roadmap at 4th FMCBG Meeting

Minister of Finance Mohammed Al-Jadaan and Governor of the Saudi Central Bank Ayman Alsayari concluded their participation in the 4th Finance Ministers and Central Bank Governors (FMCBG) meeting held in Washington, D.C., under the Brazilian G20 Presidency on October 23-24. þAt the session titled "Better, Bigger and More Effective Multilateral Development Banks (MDBs)", Al-Jadaan said that MDBs must enhance their operational effectiveness and financial capacity to meet the growing needs of developing nations. He stressed that Saudi Arabia fully supports the G20 Roadmap to make MDBs "better, bigger, and more effective", a goal that has been endorsed by FMCBG under the Brazilian G20 Presidency. þIn the session "The Global Economy: A Longer View - 25 years of the G20 Finance Track and the Continuing Imperative of Global Cooperation", Al-Jadaan said that G20 has been instrumental in shaping the global economic landscape through collaboration. Stressing G20's pivotal role, he highlighted the group's achievement under the Saudi Presidency, in 2020, when it responded effectively to the unprecedented global health and economic crisis caused by the COVID-19 pandemic, including through the adoption of debt relief initiatives. þOn the sidelines of the FMCBG meeting, Deputy Minister of Finance for International Affairs Khalid Bawazier participated in the roundtable meeting "Exploring Financial Innovations for the Global Alliance Against Hunger and Poverty", where he said that Saudi Arabia is committed to achieving the Sustainable Development Goals, which are integral to Saudi Vision 2030. Bawazier also participated in the G20 Joint Meeting of Finance, Climate and Environment, and Foreign Affairs Ministers and Central Banks Governors, where he emphasized Saudi Arabia's commitment to achieving net-zero emissions target by 2060 through the adoption of Circular Carbon Economy, in line with its development plans and economic diversification efforts. Source: Saudi Press Agency