G20 summit aims to foster cooperation, overcome global challenges: Al-Jadaan

The G20 summit, chaired by Saudi King Salman bin Abdulaziz, continues to move forward with its inclusive and bold agenda, in cooperation with G20 countries, in times of crisis, the state-run SPA reported, citing Mohammed Al-Jadaan, Minister of Finance and acting Minister of Economy and Planning.

Saudi Arabia is honored to hold the G20 presidency for this year amid this difficult time due to the COVID-19 crisis, Al-Jadaan said, pointing to the G20 outcomes. G20 members took actions to fight against the pandemic by contributing at the outset of the crisis over $21 billion directed towards diagnostics, vaccines, and therapeutics for the benefit of humanity.

The G20 also injected over $11 trillion to support the global economy.

It also agreed to suspend more than $14 billion in debt payments for the poorest countries, which are due to expire at the end of the year.

The upcoming summit of the G20 countries, under the presidency of King Salman, will be keen to foster international cooperation to support the global economic recovery and provide a solid basis for sustainable, balanced and comprehensive growth, the Saudi minister noted, expressing his optimism about the summit outcomes for the global economy and international community.

Saudi Arabia will host the G20 Leaders' Summit, which will be held virtually on Nov. 21 and 22 under the G20 Saudi Arabia presidency, chaired by King Salman bin Abdulaziz Al Saud.