New Delhi: The White House has confirmed its role as the host for the 2026 G20 Summit, following the impactful Delhi summit that showcased the group’s capacity to address critical global issues. In a statement released immediately after the Delhi declaration, the White House emphasized the G20’s ability to find solutions to pressing concerns, especially during a period marked by climate crises, global fragility, and conflicts such as Russia’s war in Ukraine.
President Biden, at the Delhi G20 Summit, continued his commitment to restoring the United States’ global leadership, mending international relationships, and championing an inclusive economic agenda. The US pledged to uphold the G20’s goals and build upon the progress achieved during India’s G20 Presidency, leading up to Brazil’s Presidency in 2024 and South Africa’s in 2025.
The announcement reiterated the US’s dedication to advancing a global geopolitical and economic order rooted in equity and justice and welcomed the African Union as a permanent member of the G20, recognizing Africa’s significance in the global economy.
During the summit, G20 leaders committed to implementing the G20 2023 Action Plan to Accelerate the Sustainable Development Goals (SDGs). President Biden rallied G20 partners to increase funding and concessional finance for the World Bank to aid low- and middle-income countries, strengthening the institution’s ability to tackle global challenges swiftly.
Furthermore, leaders pledged to intensify efforts to address ongoing debt distress cases, with a focus on countries like Ghana and Sri Lanka. President Biden emphasized the importance of meaningful progress, particularly by the World Bank and IMF Annual Meetings in October.
Biden urged leaders to innovate and devise new approaches to transform unsustainable debt into transformative investments, encouraging all creditors to include climate-resilient debt clauses in their lending, including the private sector and multilateral development banks.
The US Export-Import Bank is already gearing up to incorporate such clauses in select bilateral lending, aligning with its governance framework. A landmark India-Middle East-Europe Economic Corridor, announced during an event co-hosted by President Biden and Prime Minister Modi, is set to enhance global trade and foster cooperation in energy and digital connectivity, symbolizing a new era of connectivity from Europe to Asia.
Additionally, President Biden unveiled a partnership with the European Union to expand investments in the Lobito Corridor, emphasizing the deployment of public capital to leverage private sector expertise and financing. This collaboration aims to strengthen 21st-century energy supply chains, enhance digital connectivity, improve electricity access, ensure food security, and fortify healthcare systems.