Representatives from more than 20 countries are in the city for the 3rd meeting of the Infrastructure Working Group (IWG)
On Tuesday (26), the G20 delegation participating in working meetings in Foz do Iguaçu (PR) was received at the Central Lookout of Itaipu Dam for the opening event of the meeting. Throughout the week, the delegations are taking part in Infrastructure Working Group (IWG) discussions and the G20 Finance Track. This was the first of four meetings in the city.
According to Antonio Freitas, Deputy Secretary for International Finance and Economic Cooperation at the Ministry of Finance, the choice of Foz do Iguaçu as the venue for one of the G20 meetings is a recognition of the relevance the region where the dam is located stands for. ‘The infrastructure working group is discussing four major priorities: poverty infrastructure; climate-resilient infrastructure; mitigation of exchange rate risk for infrastructure investments; and mobilization of resources for cross-border projects. We believe that Itaipu, due to its size, strength, and importance, aligns well with these four major priorities,’ he emphasized. He sees the Binational entity as an example of cooperation between countries that can be a model for the world.
During the event with authorities, the Brazilian general director of Itaipu Binacional, Enio Verri, emphasized the importance of meetings among the 20 richest countries on the planet to bring about fundamental changes in different areas. ‘These meetings will address topics such as the transition in fuels, energy, and consumption, in addition to the climate crisis. Bringing these agendas to Itaipu is a way to show that the company is aligned with these issues, especially energy transition,’ he explained.
According to Verri, the motto adopted by Brazil in the G20, ‘Building a Fair World and a Sustainable Planet’, suits perfectly the company’s policies. ‘Our actions in environmental, social, and income distribution policies are absolutely aligned with this project and this conception,’ he stated.
About the G20
The G20 (Group of 20) is an international forum for economic cooperation established in 1999. It brings together 19 countries, the European Union and the African Union, covering developed and emerging nations. The G20 is not a formal economic bloc, but rather a group dedicated to dialogue on key issues related to global economic stability. The presidency of the G20 is rotating and this year it was assumed by Brazil.
Officially participating are: South Africa, Germany, Saudi Arabia, Argentina, Australia, Brazil, Canada, China, South Korea, United States, France, India, Indonesia, Italy, Japan, Mexico, United Kingdom, Russia, and Turkey, in addition to the African Union and the European Union. Countries and international organizations invited by the host also participate in the meetings.
The G20 operates distinctly compared to traditional international organizations, with two main approaches: the Finance Track and the Sherpa Track. The Finance Track is led by the Finance Ministers and Central Bank Governors of the group’s countries, who meet at least four times a year (two of which coincide with the general meetings of the World Bank and IMF). The Sherpas, who lead the other track, are the personal representatives of the G20 leaders, responsible for overseeing negotiations, discussing the agenda items for the summit, and coordinating most of the work.
The Sherpa Trail consists of 15 working groups, two task forces (one for Launching a Global Alliance against Hunger and Poverty and another for Global Mobilization against Climate Change) and a Bioeconomy Initiative. The working groups are: Agriculture, Anti-Corruption, Culture, Development, Digital Economy, Disaster Risk Reduction, Education, Employment, Energy Transitions, Climate and Environmental Sustainability, Health, Tourism, Trade and Investment, Women’s Empowerment and Research and Innovation.
In the Finance Track, ministers and central bank governors address nine technical groups: Global Economy, International Financial Architecture, Infrastructure, Sustainable Finance, Finance and Health, International Taxation, Financial Inclusion, G20 Task Force for Africa, and Financial Sector Issues.
Brazil in the G20
Brazil’s presidency in the G20 represents a historic and emblematic moment in the country’s resurgence on the international stage. During this period, priority issues of the current Brazilian government will be discussed, including combating hunger, poverty, and inequality, the three dimensions of sustainable development (economic, social, and environmental), and global governance reform.
Itaipu,
With 20 generating units and 14,000 MW of installed capacity, Itaipu is a global leader in the generation of clean and renewable energy, having produced 3 billion MWh since 1984. In 2023, Itaipu accounted for approximately 10% of Brazil’s electricity supply and 88% of Paraguay’s.
