The 2020 G20 Leaders' Summit will be held virtually on Nov. 21-22 in Riyadh and will be chaired by Saudi King Salman bin Abdulaziz Al Saud.
The Summit will focus on protecting lives and restoring growth, by addressing vulnerabilities uncovered during the pandemic and by laying down the foundations for a better future.
The G20 Leaders' Summit will be held under the Theme of "Realizing Opportunities of the 21st Century for All".
The Summit will also focus on fostering international action to realize opportunities of the 21st century for all, by empowering people and protecting the planet, whilst harnessing the potential of innovation to shape new frontiers.
The Saudi G20 Presidency proposes the following approach for steering the G20 work:
- Focus on where the G20 can make a difference and deliver deliver concrete actions, by prioritizing critical issues for people and planet earth, which can be achieved through global cooperation;
- Cooperate to forge consensus on challenging issues and engage with relevant stakeholders, non-G20 countries, business and civil society;
- Adopt results-oriented, forward-looking and sustainable perspectives, prepare for longterm policies and avoid excessive short termism;
- And stand fully prepared to take preventive measures and address consequences of unforeseen circumstances affecting the global economy
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2020 G20 Focus |
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Empowering People |
- Unleashing Access to Opportunities for all by breaking barriers preventing underserved groups’ access to opportunities; - Boosting financial inclusion of women and youth Concrete actions to finance the 2030 sustainable development agenda; - Promoting accessible, safe and person-centric health systems; - Creating inclusive tourism destinations |
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Safeguarding the Planet |
- Creating cleaner and more sustainable energy systems for a new era and practical approaches to manage emissions; - Focusing on energy access and the use of all energy sources to promote sustainable development; - Minimizing land degradation by reforesting the planet; - Improving global water management, and reducing global food loss and waste |
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Shaping new Frontiers |
- Utilizing technology in infrastructure; - Delivering a global solution to tax challenges from digitalization; - Developing smart cities and creating trustworthy Al; - Harvesting the benefits from the entry of BigTech in finance; - Tackling emerging risks, and ensuring cyber resilience |
In the run-up to G20 Leaders’ Summit in Riyadh, the Saudi Presidency hosted several meetings featuring Ministers, senior government officials as well as civil society representatives.
The G20 summit is happening as Covid-19 continues to spread almost a year after it was first detected in China. It we will build on the strong legacy of the G20 Extraordinary Leaders' Summit on COVID-19, which was held last March, and the outcomes of the Labour and Ministerial meetings that crossed 100 meetings.
On March 26, the Extraordinary G20 Leaders’ Summit on COVID-19 issued a statement, announcing commitment to take all necessary health measures and seek to ensure adequate financing to contain the pandemic and protect people, especially the most vulnerable.
The G20 countries have injected more than $11 trillion to support the global economy, and bridge the health funding gap with $21 billion to enhance pandemic preparedness and response.
The G20 launched its historic G20 Debt Service Suspension Initiative (DSSI), providing the poorest and most vulnerable countries with urgent and immediate liquidity relief from official bilateral creditors. The initiative allows $14 billion just in 2020 to strengthen the fight against the pandemic and its social and economic impacts.
The following table illustrated Saudi Arabia's G20 achievements in 2020:
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Achievements of the Saudi G20 Presidency |
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Date |
Detail |
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March 26 |
G20 leaders held an extraordinary summit chaired by King Salman bin Abdulaziz to discuss ways in coordinating global efforts to combat the coronavirus pandemic and reduce its humanitarian and economic impact. |
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March 31 |
G20 Trade Ministers agreed to keep their economies open and ensure the continued flow of supplies, medical equipment and other vital goods as the world struggles with the fast-spreading coronavirus. |
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April 11 |
G20Energy Ministers committed to ensuring that the energy sector continues to make a full and effective contribution to overcoming the Corona pandemic and supporting the subsequent global recovery. |
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April 15 |
Saudi Finance Minister Mohammed Al-Jadaan said the G20 has allocated $7 trillion to deal with the fallout from the Corona virus, adding that financial assistance has been provided to developing countries, revealing that the G20 has allocated $1 trillion to poorest countries to cope with the epidemic. Al-Jadaan noted that the Kingdom, as the head of the group, submitted a plan to postpone the debt of the poorest countries, and it was approved by the group, adding that the debt suspension is large and will provide immediate liquidity of more than $20 billion, and will last for a year, which is unconditional, and requires only the involvement of countries with the IMF. |
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June 26 |
41 countries, including 26 African countries, have announced that they will benefit from the G20 initiative to suspend debt service payments, out of a total of 73 countries eligible for IDA loans and those listed by the United Nations as 'least developed'. |
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Sept 29 |
Energy ministers of the G20 countries praised the role of the King Abdullah Petroleum Studies and Research Center (KAPSARC) in issuing the Circular Carbon Economy Guide in collaboration with a number of international organizations. |
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Sept 30 |
The Kingdom's Presidency of the G20 and the International Monetary Fund (IMF) concluded a high-level virtual conference on "enhancing opportunities in Arab countries" by highlighting possible solutions to achieve a strong, sustainable and comprehensive economic recovery, particularly, after the emerging Coronavirus pandemic. |
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Oct 15 |
Finance ministers and central bank governors of the G20 countries have agreed to extend the suspension of debt service payments for six-month period due to continued liquidity pressures while addressing debt vulnerabilities gradually, and will examine the economic and financial situation to see if the initiative needs to be extended for an additional six months. |
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Nov 13 |
Finance ministers and governors of the G20 central banks endorsed the “Joint Debt Treatment Framework beyond the scope of the Debt Service Suspension Initiative”which is also approved by Paris Club and confirmed that they remain committed to implementing the debt service suspension initiative to provide the greatest possible support to countries authorized to benefit from the initiative. |
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