G20 in Catalyzing Private Development Finance: Potentials and Prospects

Abstract

This study explores the possibilities and prospects of the G20’s involvement in igniting private development financing, which is crucial for fostering economic growth and development in underdeveloped nations. The G20 has acknowledged the essential role that private development finance plays in attaining global development objectives. It also assesses the G20’s policies and programs for promoting private development financing, citing examples like the Global Infrastructure Connectivity Alliance and the Compact with Africa. The evaluation also takes into account India’s views on G20 initiatives like the G20 Innovation Partnership for Inclusive Development and the present situation. The findings from the study show that the G20 has made a substantial effort to spur private development financing, although there are still gaps and difficulties in their work. Challenges that must be overcome include, for example, the lack of coordination among G20 countries and the requirement for stronger risk-sharing systems. This study offers valuable insights for policymakers, private sector corporations, and other stakeholders involved in promoting economic growth and development in developing nations. This also highlights India’s G20 Presidency and its initiatives to encourage private investment. The suggestions made in this article are intended to fill in the gaps and overcome the obstacles facing the G20’s initiatives to spur private development financing, which may help achieve the world development goals, particularly from the Indian perspective.