Tracing a new course: India's G20 insights inspire ICRIER-Bill & Melinda Gates Foundation alliance
| 2023-12-21
ICRIER, Bill & Melinda Gates Foundation sign a joint declaration to take forward India’s G20 ideas, in New Delhi on December 20,
This is part of a broader program by ICRIER, supported by the Asia Development Bank Institute (ADBI) and others
In a crucial update marking India's continued prominence on the global economic stage, the Indian Council for Research on International Economic Relations (ICRIER) and the Bill & Melinda Gates Foundation have signed a Joint Declaration of Intent. This strategic alliance is aimed at advancing India's innovative ideas and approaches, particularly those highlighted during its G20 Presidency.
The declaration, signed on Wednesday (December 20, 2023), focuses on three critical areas: reforms in Multilateral Development Banks (MDBs), Digital Public Infrastructure (DPI), and Economic Policy for Women-led Development (EPWD). The partnership is expected to leverage the insights and momentum gained from India's G20 Presidency, a period marked by significant international engagement and policy discussions.
A key aspect of this joint declaration is the creation of a dashboard for monitoring the lending practices of MDBs. This initiative aims to benchmark MDB performance against parameters identified by the G20's independent expert group, reflecting a commitment to transparency and accountability in global financial practices.
Another significant focus is on DPI, where India has recently demonstrated leadership, especially in areas like digital identities and fast payment systems. ICRIER and the Gates Foundation intend to respond to international interest in India’s DPI systems, aiming to share the country’s experiences and expertise in this domain, particularly concerning financial inclusion.
In addition, the collaboration seeks to escalate women-led development, a vital aspect of sustainable economic growth. The 'Network of Practitioners' is set to be established under this initiative, focusing on bringing gender issues to the forefront of policy-making and ensuring that they are integral to India’s economic strategy.
This initiative is part of a broader program by ICRIER, supported by the Asia Development Bank Institute (ADBI) and others, which aims to provide analytical support to India’s G20 Presidency. The program involves extensive research activities, including the production of high-quality research papers, policy briefs, and stakeholder consultations, all focusing on transnational issues vital to the G20 agenda.
Deepak Mishra, Director and Chief Executive of ICRIER, noted the heightened curiosity in developing countries regarding India's development story and its influence in global discussions, following the successful G20 Presidency. This partnership underlines the commitment to sharing India's developmental achievements and expertise both domestically and globally.
Hari Menon, India Country Director for the Bill & Melinda Gates Foundation, expressed optimism that this collaboration would foster increased international engagements, especially across countries in the Global South, thereby accelerating progress towards Sustainable Development Goals, particularly Goals 1-6.
This declaration not only demonstrates India's expanding role in international economic discourse but also broadcasts its dedication to disseminating its developmental experience and innovative strategies globally, thereby nurturing a more unified and inclusive international community.
The declaration, signed on Wednesday (December 20, 2023), focuses on three critical areas: reforms in Multilateral Development Banks (MDBs), Digital Public Infrastructure (DPI), and Economic Policy for Women-led Development (EPWD). The partnership is expected to leverage the insights and momentum gained from India's G20 Presidency, a period marked by significant international engagement and policy discussions.
A key aspect of this joint declaration is the creation of a dashboard for monitoring the lending practices of MDBs. This initiative aims to benchmark MDB performance against parameters identified by the G20's independent expert group, reflecting a commitment to transparency and accountability in global financial practices.
Another significant focus is on DPI, where India has recently demonstrated leadership, especially in areas like digital identities and fast payment systems. ICRIER and the Gates Foundation intend to respond to international interest in India’s DPI systems, aiming to share the country’s experiences and expertise in this domain, particularly concerning financial inclusion.
In addition, the collaboration seeks to escalate women-led development, a vital aspect of sustainable economic growth. The 'Network of Practitioners' is set to be established under this initiative, focusing on bringing gender issues to the forefront of policy-making and ensuring that they are integral to India’s economic strategy.
This initiative is part of a broader program by ICRIER, supported by the Asia Development Bank Institute (ADBI) and others, which aims to provide analytical support to India’s G20 Presidency. The program involves extensive research activities, including the production of high-quality research papers, policy briefs, and stakeholder consultations, all focusing on transnational issues vital to the G20 agenda.
Deepak Mishra, Director and Chief Executive of ICRIER, noted the heightened curiosity in developing countries regarding India's development story and its influence in global discussions, following the successful G20 Presidency. This partnership underlines the commitment to sharing India's developmental achievements and expertise both domestically and globally.
Hari Menon, India Country Director for the Bill & Melinda Gates Foundation, expressed optimism that this collaboration would foster increased international engagements, especially across countries in the Global South, thereby accelerating progress towards Sustainable Development Goals, particularly Goals 1-6.
This declaration not only demonstrates India's expanding role in international economic discourse but also broadcasts its dedication to disseminating its developmental experience and innovative strategies globally, thereby nurturing a more unified and inclusive international community.
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