Minister of Finance Participates in the Virtual G20 Leaders’ ‎Summit Under India’s Presidency

On behalf of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and the Crown Prince and the Prime Minister, HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, H.E. the Saudi Minister of Finance, Mr. Mohammed Aljadaan, participated in the Virtual G20 Leaders’ Summit held today, 22 November 2023 under India’s Presidency.

This Virtual Summit comes as a continuation of the in-person G20 Summit, which was held in New Delhi, India, last September. The Summit aims to discuss the outcomes of the final declaration of the New Delhi Summit, in addition to discussing a number of topics, including the role of multilateral development banks, climate action, green financing, digital transformation and infrastructure, and women-led development.

During the Kingdom’s speech, Aljadaan conveyed the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and the Crown Prince and Prime Minister, HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, to the leaders of the G20 countries, and their wishes for a successful Summit.

Aljadaan pointed to the current situation in Gaza, stating that what we are witnessing today in terms of violence and escalation in Gaza violates international laws, and has resulted in a humanitarian catastrophe that history will long remember, and revealed the double standards and the selective adherence to the UN Charter and resolutions, which not only exacerbates the immediate consequences but also poses a significant threat to the credibility of the current international system and its ability to uphold global peace and security.

Aljadaan emphasized that the Kingdom of Saudi Arabia reaffirms its absolute rejection of the targeting of civilians, infrastructure, residential and medical facilities, and the forced displacement of Palestinian people, and also reaffirm Saudi Arabia’s demands for an immediate ceasefire. He noted that the Kingdom calls for urgent and safe access of relief and medical supplies to the residents of Gaza, and urges for accelerated efforts to create the conditions for the return of stability and for achieving a lasting peaceful solution that guarantees the Palestinian people their legitimate rights, including the establishment of their independent state within the 1967 borders, with East Jerusalem as its capital.

With regards to climate change, Aljadaan stated that climate change requires us all to engage in serious, persistent, and cross-border efforts, taking advantage of the latest technologies and various approaches, including the Circular Carbon Economy approach, which manages carbon emissions and contributes to achieving our climate goals.

Aljadaan stated that the increasing debt vulnerabilities and escalating pressures on many developing countries require a coordinated global response. He noted that the Kingdom attaches high priority to the implementation of the G20’s Common Framework, emphasizing the importance of intensifying efforts to establish a sustainable approach for this framework.

Aljadaan concluded by thanking the Indian G20 Presidency for its efforts, and wishing the Brazilian G20 Presidency every success in the coming year.

It is noteworthy that, as part of the Kingdom’s leadership role during its G20 Presidency in 2020 and its active participation in the group’s summits, the Kingdom has succeeded, in collaboration with members of the G20, in including several topics that support the global economy, such as innovative solutions to address the debt vulnerabilities including the Debt Service Suspension Initiative and the Common Framework for Debt Treatments, the inclusion of a circular carbon economy approach, continuing efforts to increase technologies related to avoiding, reducing and removing emissions, and the establishment of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network).