Washington D.C.: India and the USA today reaffirmed the collective developed country goal to mobilize $100 billion annually for developing countries from public and private sources, “in the context of meaningful mitigation actions and transparency on implementation”.
At the eighth ministerial meeting of the India-U.S.A. Economic and Financial Partnership Dialogue here today, which was chaired by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman and the Secretary of the Treasury of the United States Dr. Janet Yellen, both sides came out with a joint statement.
They also stated their intention to engage further on addressing climate change between our two ministries, as well as through the Finance Mobilization pillar of the recently launched Climate Action and Finance Mobilization Dialogue (CAFMD) under the U.S.-India Climate and Clean Energy Agenda 2030 Partnership.
During the ministerial meeting of the India-U.S.A. Economic & Financial Partnership, discussions were held on a range of subjects, including the macroeconomic outlook and recovery from the COVID-19 pandemic, financial regulatory and technical collaboration, multilateral engagement, climate finance and anti-money laundering and combating the financing of terrorism (AML/CFT). Both sides affirmed their commitments to continue collaboration both at bilateral and multilateral fora to address mutual and global economic issues and strive towards amicable strategies and solutions.
Today’s meeting featured the Economic and Financial Partnership’s first session dedicated to climate finance, reflecting their respective commitments to driving urgent progress in combatting climate change and the critical role of climate finance in achieving this shared global goal.
“We shared views on the re-energized global efforts to increase climate ambition as well as our respective domestic efforts to meet our publicly expressed climate goals. We agreed that public finance, when paired with enabling policies, can promote private finance,” stated the joint statement.
– global bihari bureau
