Saudi Arabia Concludes Role in 4th G20 FMCBG Meeting, Highlights Global Economic and Sustainability Goals

KSA, 28 October, 2024 : Saudi Arabia’s Finance Minister, His Excellency Mohammed Aljadaan, and the Saudi Central Bank (SAMA) Governor, His Excellency Ayman Alsayari, concluded their participation in the 4th Finance Ministers and Central Bank Governors (FMCBG) meeting, held under the Brazilian G20 Presidency on October 23-24, 2024, in Washington, D.C.

During a session focused on enhancing Multilateral Development Banks (MDBs), Minister Aljadaan emphasized the need for MDBs to strengthen operational effectiveness and financial capacity to meet developing nations' needs. He affirmed Saudi Arabia's support for the G20 Roadmap to make MDBs "Better, Bigger, and More Effective," endorsed by FMCBG.

In another session titled "The Global Economy: A Longer View," Minister Aljadaan highlighted the G20's role in global economic cooperation, citing the G20's swift response under Saudi leadership in 2020 during the COVID-19 crisis, which included debt relief initiatives.

On the sidelines, Saudi Deputy Minister of Finance for International Affairs, Mr. Khalid Bawazier, joined a roundtable on "Financial Innovations for the Global Alliance Against Hunger and Poverty." He reiterated Saudi Arabia’s commitment to the Sustainable Development Goals (SDGs), aligning with Vision 2030.

Mr. Bawazier also attended the G20 Joint Meeting on Finance, Climate, Environment, and Foreign Affairs, underscoring Saudi Arabia’s net-zero 2060 target through the Circular Carbon Economy approach, integral to the Kingdom’s diversification and sustainability plans.

Source : www.mof.gov.sa