Media Advisory – Secretary Yellen to Journey to India and Indonesia

Secretary Yellen will attend the united statesIndia Financial and Monetary Partnership in New Delhi, and the G20 Joint Finance and Well being Ministers’ Assembly and G20 Leaders’ Summit in Bali

WASHINGTON — Secretary of the Treasury Janet L. Yellen will journey to New Delhi, India to take part within the U.S.-India Financial and Monetary Partnership on November 11. Secretary Yellen will then journey to Bali, Indonesia to signify america on the G20 Joint Finance and Well being Ministers’ Assembly on November 12 and accompany President Biden on the G20 Leaders’ Summit on November 15 and 16.

In India on November 11, Secretary Yellen will spotlight the power of america’ partnership with India, which continues to deepen. The Secretary will meet with expertise sector leaders and go to the Microsoft India Growth Heart, the place she’s going to ship remarks on america’ financial partnership with India. The Secretary will then maintain a bilateral assembly with Indian Minister of Finance and Minister of Company Affairs Nirmala Sitharaman. Following the U.S.-India Financial and Monetary Partnership (EFP) dialogue, the Secretary will be part of Minister Sitharaman for a hearth dialogue with executives from main Indian corporations and American corporations working in India. To conclude the day, Secretary Yellen and Minister Sitharaman will signal a joint assertion on the EFP dialogue. The Secretary’s remarks and participation within the hearth dialogue can be open to pre-credentialled press. There can be press sprays with remarks on the prime of the EFP and bilateral assembly, and a photograph spray on the signing ceremony.

All through her go to to India, Secretary Yellen will focus on how america and India have labored collectively to deepen their financial ties. Secretary Yellen will spotlight the shut ties between American and Indian individuals and companies, and notice methods we are able to additional our bilateral financial relationship, together with via the Indo-Pacific Financial Framework and stronger provide chains via friend-shoring. She is going to reaffirm America’s and India’s shared democratic values and dedication to upholding a rules-based worldwide order because the world’s largest democracies. The Secretary may even welcome India’s assumption of the G20 presidency subsequent month and focus on alternatives to make progress on world challenges via world local weather motion, evolving the multilateral growth banks (MDBs), additional strengthening world well being structure, and advancing debt aid for low-income nations and rising markets.

In Bali on November 12, Secretary Yellen will signify america on the G20 Joint Finance and Well being Ministers’ Assembly. On November 13, the Secretary will take part in an occasion celebrating the launch of the Pandemic Fund, a historic achievement of the G20 Indonesian Presidency for which america was an early supporter and one of many largest donors with an preliminary $450 million contribution. In these occasions, she’s going to encourage elevated help from the worldwide neighborhood to construct resilience in opposition to future pandemics, press for strengthening health-finance collaboration, and emphasize the significance of the G20 in bettering the worldwide pandemic preparedness structure. The launch occasion can be open to pre-credentialed press and livestreamed.

On November 14, Secretary Yellen will take part within the Simply and Inexpensive Vitality Transition for Indonesia – Vitality Transition Mechanism Excessive-Stage Seminar. There, the Secretary will spotlight Treasury’s engagement with key rising markets like Indonesia which can be dedicated to transitioning to net-zero economies by implementing sturdy power sector reform agendas. This worldwide motion builds on america’ largest-ever funding in combating local weather change because of President Biden’s Inflation Discount Act and Bipartisan Infrastructure Legislation. This occasion can be open to pre-credentialed press.

On November 15 and 16, Secretary Yellen will accompany President Biden on the G20 Leaders’ Summit.

Whereas in Indonesia, Secretary Yellen will take part in different occasions and bilateral conferences, together with with Italian Minister of Financial system and Finance Giancarlo Giorgetti. All through these occasions and conferences, the Secretary will be part of President Biden in rallying our world coalition to carry Russia accountable for its brutal warfare in Ukraine and to help the individuals of Ukraine. Secretary Yellen may even assist lead the worldwide response to macroeconomic challenges, together with financial disruptions and elevated world inflation from the COVID-19 pandemic and Russia’s unlawful warfare in opposition to Ukraine, that are notably dangerous to low- and middle-income nations. The Secretary will focus on with counterparts methods to extend resiliency within the world financial system in opposition to cross-border challenges like local weather change and pandemics—together with via elevated local weather finance and evolving the MDBs, all which advance the President’s imaginative and prescient for bolstering sustainable investments and infrastructure growth via the Partnership for World Infrastructure and Funding (PGII).

Additional engagements and particulars can be introduced within the coming days.


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