Global Biofuel Alliance and India-Middle East-Europe Economic Corridor announced at 2023 G20 New Delhi Summit
- The 2023 G20 Leaders’ Summit began in New Delhi on September 09, 2023.
- The two day summit from 9 – 10 September 2023, is taking place in Bharat Mandapam International Exhibition-Convention Centre, Pragati Maidan, New Delhi.
- It is the 18th meeting of G20 (Group of Twenty), and for the first time G20 summit is being held in India as well as in South Asia.
- The Summit is chaired by the Prime Minister of India, Shri Narendra Modi.
- G20 Sherpa – Amitabh Kant
- The theme of 2023 G20 Leaders’ Summit is One Earth, One Family, One Future
- Indonesia held the presidency in 2022.
- Two major global partnerships announced on Day 1 of the Summit under India’s presidency are:
- Global Biofuel Alliance (GBA)
- India-Middle East-Europe Economic Corridor
- GBA: It is the third multilateral initiative created by the Narendra Modi-led government, behind the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure.
- India, Brazil and the United States are the founding members of the GBA.
- The initiative urges countries at a global-level to take ethanol blending in petrol up to 20 percent.
- A total of 19 countries and 12 international organizations have so far agreed to join the alliance. This includes both G20 members and non-member countries.
- The ‘India-Middle East-Europe Economic Corridor’ is aimed at building rail and waterways corridors across the Middle East and India.
- The initiative is funded by the G7 group of nations, which includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US.
- This infrastructure corridor is part of an ambitious initiative, the Partnership for Global Infrastructure Investment.
Points to Remember:
- The 2023 G20 Leader’s Summit is held in which city?
- Which country held the presidency for 2023 G20 Leader’s Summit?
- Theme of the Summit in 2023?
- Global Biofuel Alliance aims to blend ethanol in petrol up to what percent at global level?
- The India-Middle East-Europe Economic Corridor will be funded by which bloc? G7 Group