19th G20 Summit in Brazil

All About G20

1. The Group of Twenty (G20) is a forum, not a legislative body, for international economic cooperation, consisting of 19 countries, the EU, and the African Union.
2. Founded in 1999 after the Asian financial crisis, it initially served as a platform for Finance Ministers and Central Bank Governors to address global economic issues.
3. In response to the 2007 global financial crisis, it was elevated to a Heads of State-level forum.
4. By 2009, it was recognized as the "premier forum for international economic cooperation."
5. Over time, its agenda expanded from macroeconomic concerns to include topics like sustainable development, health, energy, environment, climate change, and anti-corruption.
6. The G20 Summit, held annually, is led by a rotating Presidency, with no fixed headquarters or permanent Secretariat.
7. The first Summit took place in 2008 in Washington, DC, and the US hosted the event twice, in 2008 and 2009.
8. The G20 represents around 85% of global GDP and 75% of global trade, as well as two-thirds of the world’s population, prior to the AU joining.

                                   G20's Debt Service Suspension Initiative (DSSI)

1. The G20's Debt Service Suspension Initiative (DSSI) provided temporary debt relief to 73 of the poorest countries during the COVID-19 pandemic.
2. Official bilateral creditors suspended debt repayments, freeing up billions for health and economic needs.
3. While it offered short-term liquidity and stability, the exclusion of private creditors and multilateral institutions limited its impact.
4. Ending in December 2021, DSSI transitioned to the Common Framework for deeper debt restructuring, showcasing global cooperation in economic recovery efforts.
5. The Common Framework for Debt Treatments beyond the DSSI, endorsed by the G20 and Paris Club in November 2020, aims to provide structured debt relief to low-income countries facing unsustainable debt.
6. Paris Club is an informal group of official creditors whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.
7. Origin of the Paris Club dates back to 1956 when Argentina agreed to meet its public creditors in Paris. Since then, the Paris Club has reached 480 agreements with 102 different debtor countries.

Global Alliance Against Hunger and Poverty

1. In November 2024, The Global Alliance Against Hunger and Poverty was launched during the 2024 G20 Leaders’ Summit in Rio de Janeiro, Brazil.
2. Brazil, pushed for the initiative, provided leadership, and worked to ensure its success within the G20 meetings and discussions.

About Alliance

1. The Alliance aims to eradicate hunger and poverty, alongside partners willing to offer expertise or financial support.
2. Goal: Reach 500 million people with cash transfer programs in low-income countries by 2030. Provide high-quality school meals to 150 million additional children in vulnerable countries.
3. Approach: Operates globally through voluntary partnerships and commitments.
4. Membership: As of now, it consists of more than 150 members including 90 countries, 42 foundation and others, 25 International Organizations etc. India is also member.
5. Key Pillars of Alliance

1. National: Domestic policy and programme implementation and/or direct country-to-country support and lesson sharing, South-South and trilateral cooperation.
2. Financial Support: Multilateral funding, official bilateral and multilateral assistance and development, innovative financial mechanisms, climate funding, philanthropies, and others.
3. Knowledge: Institutions for technical assistance and cooperation, capacity building, and knowledge sharing.

The Need for the Alliance: Current Situation (Data and Projections)

1. Escalating Poverty and Hunger: In 2022, approximately 712 million people lived in extreme poverty—23 million more than in 2019—with the highest rates in the poorest countries.
   1. In 2023, 733 million people faced hunger, and 148 million children under five suffered from stunting (low height-for-age).
2. Increasing Financing Gaps: The widening gaps in financing for achieving Sustainable Development Goals (SDGs), particularly SDGs 1 (no poverty) and 2 (zero hunger), highlight the urgent need for additional resource mobilisation.
3. Gender-Based Food Insecurity: 26.7% of women worldwide were food insecure, compared to 25.4% of men, showing a gender gap worldwide.
4. Insufficient Responses: Ineffective policies, inadequate social protection, and limited resources continue to worsen hunger and malnutrition, leaving vulnerable populations without sufficient means to access adequate food and healthy diets.
5. Economic Impact of Poverty: Poverty, hunger, and malnutrition impose major economic costs on households, health systems, and national economies, particularly in developing countries.
   1. This cycle lowers productivity, hampers sustainable growth, and deepens social and economic inequalities.
6. Crisis Among Vulnerable: Rising acute food insecurity, humanitarian crises, and fragile states call for improved crisis prevention, preparedness, and resilience.
   1. A global alliance can enable targeted investments and coordinated responses to protect vulnerable populations.

What are India's Progress on Hunger and Poverty Alleviation?

1. Poverty Alleviation: Between 2014-2024, India lifted 250 million people out of poverty.
2. Food Security: Over 800 million people are being given food grains free of cost.
3. Financial and Social Inclusion: Over 300 million women micro-entrepreneurs have been linked to banks and given access to credit.
4. Farmer Support: Under Pradhan Mantri Fasal Bima Yojana (PMFBY), over 40 million farmers have received benefits worth 20 billion US dollars.
   1. Under PM-KISAN, assistance worth over 40 billion dollars has been given to 110 million farmers.
   2. India has developed over 2000 climate-resilient crop varieties.
5. Nutritional Focus: The Saksham Anganwadi and Poshan 2.0 campaign focuses on nutrition for pregnant women, newborn babies, children under the age of 6, and adolescent girls.
6. Global Contributions to Food Security: Recently, India has provided humanitarian assistance to Malawi, Zambia and Zimbabwe.