Media Alert: Secretary Yellen to travel to India and Indonesia | Tech US News

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Secretary Yellen will attend the US-India Economic and Financial Partnership in New Delhi, and the G20 Joint Meeting of Finance and Health Ministers and the G20 Leaders’ Summit in Bali.

WASHINGTON – Treasury Secretary Janet L. Yellen will travel to New Delhi, India, to participate in the US-India Economic and Financial Partnership on November 11. Secretary Yellen will then travel to Bali, Indonesia to represent the United States at the G20. Finance and Health Ministers meeting on November 12 and accompanying President Biden to the G20 Leaders Summit on November 15 and 16.

In India on November 11, Secretary Yellen will highlight the strength of the US partnership with India, which continues to deepen. The secretary will meet with technology industry leaders and visit the Microsoft India Development Center, where she will deliver remarks on the United States’ economic partnership with India. The Secretary will then hold a bilateral meeting with India’s Finance Minister and Corporate Affairs Minister Nirmala Sitharaman. Following the US-India Economic and Financial Partnership (EFP) dialogue, the Secretary will join Minister Sitharaman for a fireside discussion with executives from leading Indian companies and US companies operating in India. To conclude the day, Secretary Yellen and Minister Sitharaman will sign a joint statement on the EFP dialogue. The secretary’s remarks and participation in the fireside discussion will be open to the press with prior credentials. There will be press sprays with comments at the top of the EFP and bilateral meeting, and a photo spray at the signing ceremony.

During her visit to India, Secretary Yellen will discuss how the United States and India have worked together to deepen their economic ties. Secretary Yellen will highlight the close ties between American and Indian people and businesses, and outline ways we can advance our bilateral economic relationship, including through the Indo-Pacific Economic Framework and stronger supply chains through the friend- shoring. It will reaffirm the democratic values ​​shared between the United States and India and the commitment to defend an international order based on rules like the largest democracies in the world. The Secretary will also welcome India’s assumption of the G20 presidency next month and discuss opportunities to advance global challenges through global climate action, the evolution of multilateral development banks (MDBs), strengthening the global health architecture and debt relief for low-income people. countries and emerging markets.

In Bali on November 12, Secretary Yellen will represent the United States at the G20 Joint Meeting of Finance and Health Ministers. On November 13, the Secretary will participate in an event celebrating the launch of the Pandemic Fund, a historic achievement of Indonesia’s G20 Chairmanship to which the United States was an early supporter and one of the largest donors with an initial contribution of $450 million . At these events, he will encourage greater support from the international community to improve resilience against future pandemics, push for stronger health finance collaboration, and emphasize the importance of the G20 in improving the global pandemic preparedness architecture. The launch event will be open to pre-credentialed press and will be streamed live.

On November 14, Secretary Yellen will participate in the high-level seminar on the Energy Transition Mechanism for Indonesia’s Fair and Affordable Energy Transition. There, the Secretary will highlight Treasury’s commitment to key emerging markets such as Indonesia, which are committed to transitioning to net-zero economies by implementing robust energy sector reform agendas. This international action builds on the United States’ increased investment in the fight against climate change thanks to President Biden’s Inflation Reduction Act and bipartisan Infrastructure Act. This event will be open to the press with prior credentials.

On November 15-16, Secretary Yellen will accompany President Biden to the G20 Leaders Summit.

While in Indonesia, Secretary Yellen will participate in other bilateral events and meetings, including with Italian Minister of Economy and Finance Giancarlo Giorgetti. Throughout these events and meetings, the Secretary will join President Biden in rallying our global coalition to hold Russia accountable for its brutal war in Ukraine and support the people of Ukraine. Secretary Yellen will also help lead the global response to macroeconomic challenges, including the economic disruptions and high global inflation from the COVID-19 pandemic and Russia’s illegal war against Ukraine, which are particularly damaging to low- and middle-income countries. The Secretary will discuss with his counterparts ways to increase resilience in the global economy to cross-border challenges such as climate change and pandemics, including through increased climate finance and the evolution of MDBs, all of which advance the President’s vision to strengthen the sustainable investments and infrastructure development through the Association for Global Infrastructure and Investment (PGII).

More commitments and details will be announced in the coming days.

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