The Business 20 (B20) Summit, which was held in New Delhi from August 25^th to 27^th, had a full agenda. Its 14 plenary sessions under the general motto of the Indian presidency «One Earth, One Family, One Future» covered in one way or another the entire topical agenda on the current state and prospects for the development of the global economy and finance. The key proposal of the ARB-led Task Force on Financing Global Economic Recovery - to establish a Global SDG Acceleration Fund - was not lost among the dozens of proposals prepared by the participants of the seven B20 Task Forces for the G20 Leaders' Meeting scheduled for September 9-10 this year. The essence of this proposal is to mobilize an additional $100 billion over three years from the world's 30 largest countries in terms of GDP per capita to address the socio-economic challenges facing the international community. The new "multi-donor fund" is designed to combine public and private funding for the Sustainable Development Goals (SDGs), partially closing its deficit, which experts estimate at $ 4-5 trillion. The Fund, if used as a source of subsidized matching loans and investments, is expected to help finance the SDGs to the tune of over $1.25 trillion. Each participating country is proposed to introduce a three-year voluntary or mandatory contribution of 0.2% of profits generated by its leading enterprises to the Fund, with the difference to be covered from public sources in case of shortfalls in meeting the benchmark.
The special task force also recommended increasing the capacity of national financial markets to finance sustainable development; facilitating access to finance for small and medium-sized enterprises while reducing the cost of financing for them to promote inclusive growth; and financing sustainable and resilient infrastructure, with a focus on health care, energy and the digital economy.

                                                                       Indian Prime Minister Narendra Modi addresses the B20 summit in New Delhi

On the sidelines of the B20 Summit, a working meeting was held with Ms. Nivruti Rai, CEO of Invest India to discuss the prospects of Russian-Indian investment cooperation.
The participants in the Johannesburg and New Delhi meetings have repeatedly noted that Brazil will lead the G20 and B20 next year and South Africa will take over the presidency in 2025. The consistent leadership of the three BRICS countries as "the leading multilateral forum for international financial and economic cooperation, bringing together both developed, developing and emerging market economies, where the world's major economies jointly seek answers to global challenges" creates a unique opportunity to ensure continuity and cooperation of their presidencies, integrating the relevant BRICS agenda into the G20 agenda and elevating the role of the Global South in it.

FBA EAC was represented at the summit by Oleg Preksin, Member of the FBA EAC Board, Deputy Chairman of the RSPP Committee on International Cooperation, Vice President & Board Member at Association of Russian Banks, Deputy Chairman of Russian Financial & Banking Union.