A possible concise summary is:
The leaders of India, the United States, the European Union, France, Germany, Japan, Italy, Saudi Arabia and the UAE met at the G20 summit to launch the Partnership for Global Infrastructure and Investment (PGII), a joint initiative to invest in quality infrastructure projects in low and middle income countries. They announced two major economic corridors: one connecting India, the Middle East and Europe through rail, electricity, hydrogen and data links; and another connecting Angola, DRC and Zambia through a rail line. They emphasized the benefits of these projects for trade, connectivity, clean energy, digital innovation and regional integration. They also expressed their commitment to work with diverse partners and mobilize more capital for closing the infrastructure gap around the world.
Here are the key facts extracted from the text:
- 1. Leaders of India, United Arab Emirates, European Union, France, Germany, Japan and Italy signed a memorandum of understanding to accelerate investments in high quality infrastructure projects and the development of economic corridors.
- 2. The India Middle East Europe Economic Corridor is a historic agreement that will connect India, the Arabian Gulf and Europe with rail, electricity, hydrogen and data infrastructure.
- 3. The Trans-African Corridor is a partnership that will connect the port of Lobito in Angola with the Katanga province in DRC and the copper belt in Zambia with a rail line and other investments in local value chains, clean energy and skills.
- 4. The Partnership for Global Infrastructure and Investment (PGII) was launched last year by the world's leading economies to invest in the infrastructure that low and middle income countries need with an equal and non-predatory approach.
- 5. Japan is delivering various transport infrastructure development projects in India and other regions and announced the Japan ASEAN Comprehensive Connectivity Initiative to strengthen connectivity in various areas.
- 6. Italy is ready to play a decisive role in the India Middle East Europe Economic Corridor with its expertise in maritime and railway sector and also supports other projects such as HELMET, LURAMA and digital connections between the Mediterranean and Asia.
- 7. The United States announced that it will host a new Investor Forum in a couple of weeks to mobilize the trillions of investment needed to close infrastructure gaps around the world.
- 8. Germany contributed an additional 305 million euro of hybrid capital to the World Bank and also works with Africa through the Compact with Africa initiative.
- 9. The PGII contributes to closing the global investment gap for quality infrastructure and creates new opportunities and prosperity for all partners.