G20 Finance Ministers and Central Bank Governors’ meeting spotlights commitments and progress, and welcomes GI Hub contributions

The G20 Finance Ministers and Central Bank Governors (FMCBG) gathered for their fourth official meeting under the Italian G20 Presidency on 13 October 2021. Today, the results of the discussion were shared in the official Communiqué of the meeting and the Fourth Progress Report on the G20 Action Plan.

The Communiqué reaffirms the FMCBG’s resolve to continue addressing the adverse consequences of COVID-19, “in particular on those most impacted, such as women, youth and informal and low-skilled workers, and on inequalities” and to continue acting to sustain the recovery “while preserving financial stability and long-term fiscal sustainability, and safeguarding against downside risks and negative spillovers.” 

In our role supporting the G20 infrastructure agenda by contributing to the Infrastructure Working Group and providing advice at the FMCBG, the GI Hub applauds the progress achieved this year under the Italian G20 Presidency and the important commitments made toward a sustainable, resilient, and inclusive global recovery.

In the Communiqué, Ministers and Governors welcomed two GI Hub initiatives as non-binding and voluntary:

• The GI Hub Compendium of Innovative Funding and Financing Measures for Green and Circular Infrastructure, which is an extension our Innovative Funding and Financing tool and our initiative on Infrastructure and the Circular Economy.
• The GI Hub Roadmap for Enabling Circular Economy Potential in Infrastructure which is part of our initiative on Infrastructure and the Circular Economy.

Both will be released by the GI Hub to the public in late October 2021.

Additionally, the Fourth Progress Report on the G20 Action Plan included our work on InfraTracker, a digital tool we created for and at the request of the G20, which aims to (1) identify infrastructure-related recovery interventions and (2) collect data and insights that can support G20 policymakers in making more informed decisions on how to include infrastructure as a post-COVID-19 stimulus. Our public version of the InfraTracker and related work on transformative outcomes through infrastructure will be published in early November 2021.

The Communiqué also reflected the G20’s decision to extend the GI Hub mandate until the end of 2024.

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