Partnership for Global Infrastructure and Investment (PGII) & India-Middle East-Europe Economic Corridor (IMEC)
- Prime Minister Shri Narendra Modi and the President of USA, H.E. Mr. Joe Biden co-chaired a special event on Partnership for Global Infrastructure and Investment (PGII) and India-Middle East-Europe Economic Corridor (IMEC), on 9 September 2023 on the sidelines of the G20 Summit in New Delhi.
- The event aimed at unlocking greater investment for infrastructure development and strengthening connectivity in its various dimensions between India, Middle East and Europe.
- Leaders of the European Union, France, Germany, Italy, Mauritius, UAE and Saudi Arabia, as also the World Bank, participated in the event.
- PGII is a developmental initiative aimed at narrowing the infrastructure gap in developing countries as well as help towards accelerating progress on SDGs globally.
- The IMEC comprises of an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network and road transport routes.
- Prime Minister highlighted the importance of physical, digital and financial connectivity. He said that IMEC would help promote economic integration between India and Europe.
- An MOU on IMEC was signed by India, USA, Saudi Arabia, UAE, European Union, Italy, France and Germany.
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