Senior Officials, Experts Dive into ADB-ADBI Support for the G20, G7, and Global South

ADBI News Release | 11 May 2023

Incheon, Republic of Korea – Senior officials and experts explored Group of 20 (G20)-Asian Development Bank (ADB) engagement prospects and options for the G20, Group of Seven (G7), and Global South to address shared challenges with think tank support at an Asian Development Bank Institute (ADBI) session held alongside the 56th ADB Annual Meeting in Incheon, Republic of Korea.

Indonesia Finance Minister Sri Mulyani Indrawati described multilateral collaboration via the G20 and other international fora as key to promoting sustainable, balanced, and inclusive growth. She also discussed ADB and ADBI’s support for advancing priorities under Indonesia’s 2022 G20 presidency, including global health architecture, digital-based economic transformation, and energy transition.

ADB's Vice-President for finance and risk management Roberta Casali outlined the bank’s G20 collaboration through channels such as the G20 International Financial Architecture Working Group. She detailed ADB efforts to enhance the bank’s capital adequacy framework and optimize its balance sheet to propel global climate responses and the Sustainable Development Goals.

ADBI Dean and Think7 (T7) Japan Lead Chair Tetsushi Sonobe discussed T7 approaches to incorporating developing economies’ perspectives in the Think7 Japan Communiqué and other policy proposals for the G7 and partners. He noted that T7 Japan’s collaboration with Think20 (T20) India can provide an additional linkage between the G7 and G20 to help spotlight and drive global imperatives.

Senior policy makers and experts went on to examine G20 efforts to boost inclusive recovery, climate change resilience, and broader sustainable development. They also discussed how ADB and ADBI can further contribute to achieving global policy outcomes that address the needs of developing economies.

The session concluded by assessing the role of think tanks in bridging G20 and G7 actions to deliver new policy breakthroughs.