President von der Leyen addressed the G20 event on Partnership for Global Infrastructure and Investment (PGII), hosted by Prime Minister Modi and President Biden, highlighting the European Union's significant involvement in major PGII initiatives.

India -Middle East -Europe Economic Corridor: Launched during the event, this project aims to connect India, the Middle East, and Europe through advanced connectivity infrastructure. The EU, along with the United States, India, Saudi Arabia, and the United Arab Emirates (UAE), formalized an agreement for this corridor. The project will focus on developing energy infrastructure to support green hydrogen production, strengthening telecommunications, and enhancing data transfers through a new undersea cable, benefiting both businesses and citizens.

About Partnership for Global Infrastructure and Investment

The Partnership for Global Infrastructure and Investment (PGII) is a collaborative effort by the Group of Seven (G7) to fund infrastructure projects in developing nations based on the trust principles of the Blue Dot Network. The initiative aims to catalyze funding for quality infrastructure for low- and middle-income countries from the private sector and will encourage private-sector investments that support climate, health and health security, digital technology, and gender equity and equality.