G20 to draft plan on agriculture, infrastructure

G20 to draft plan on agriculture, infrastructure

Paris: A G20 development meeting next week will draft a plan for increasing agricultural output, boosting infrastructure spending and improving access to financing for poorer countries, G20 chair France said on Thursday.

The 23 September meeting of finance and development ministers from the G20 group of rich and developing nations will receive a report drafted by billionaire philanthropist Bill Gates on innovative solutions for financing development and the role of emerging nations in international cooperation.

The talks, on the sidelines of the IMF and World Bank annual meetings in Washington, will also focus on the implementation of an action plan drafted by multilateral development banks for increasing sustainable agricultural production, as well as ways to improve agricultural research and farmers’ risk management in poorer nations.

Multilateral development banks will present a plan for expanding financing sources for infrastructure projects in areas such as water and electricity, transport and telecommunications, France’s finance ministry said in a statement.

Tidjane Thiam, the chief executive of British insurer Prudential, will present the findings of a panel formed by French President Nicolas Sarkozy on innovative solutions for infrastructure financing, the statement said.

The meeting will be attended by ministers from five guest countries: Ethiopia, Singapore, United Arab Emirates, Spain and Equatorial Guinea.

At the end of the meeting, an action plan will be submitted to the G20 heads of state and government, who will gather on 4 November in the southern French resort of Cannes for a summit to mark the end of France’s presidency.