Quad leaders reiterated their shared commitment to a free, open and inclusive Indo-Pacific. (File)
Tokyo:
The Quadrilateral Security Dialogue (Quad) countries reaffirmed a shared commitment to deepen infrastructure cooperation and agreed on Tuesday to allocate $50 billion for infrastructure and investment in the Indo-Pacific region over a period of five years.
Prime Minister Narendra Modi attended the second in-person Quad Leaders’ Summit in Tokyo today, alongside leaders from Japan, the US and Australia.
At the summit, leaders reiterated their shared commitment to a free, open and inclusive Indo-Pacific and the importance of upholding the principles of sovereignty, territorial integrity and peaceful settlement of disputes.
“We are committed to working closely with partners and the region to drive public and private investment to bridge gaps. To achieve this, Quad will invest more than $50 billion in infrastructure support and investment in the Indo-Pacific over the coming years. want to expand. five years,” the Quad Joint Leaders said in a statement.
The leaders underlined that deepening infrastructure cooperation is critical to boosting productivity and prosperity in the Indo-Pacific region.
“We will work to strengthen the capacity of the countries that need it to tackle debt problems under the G20 Common Framework and by promoting debt sustainability and transparency in close cooperation with financial authorities from the relevant countries, including through the Quad Debt Management Resource Portal, which consists of multiple bilateral and multilateral capacity building assistance,” the statement said.
In the joint statement, they also welcomed the meeting of the development finance institutions and agencies of the four countries on the sidelines of the Quad Leaders’ Meeting. “We are working closely with experts in our region and with each other to link our toolkits and expertise to better connect the Indo-Pacific.”
They further pledged to deepen cooperation and take additional actions in certain areas, such as regional and digital connectivity, clean energy and climate resilience, including disaster resilience in energy-related facilities.
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