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IMEC

Photo courtesy: twitter.com/POTUS

'Game-changing investment': US Prez Joe Biden hails India-Middle East-Europe Economic Corridor

India Blooms News Service | @indiablooms | Sep 11, 2023, at 01:34 am

#IMEC #G20 #G20Summit #PMModi #JoeBiden #India #MiddleEast #Europe

New Delhi: US President Joe Biden has hailed the India-Middle East-Europe Economic Corridor (IMEC) launched on Saturday as a 'game-changing investment' for the US.

Emphasising the significance of the India-Middle East-Europe Economic Corridor (IMEC), he underscored the US's commitment to investing in the new rail line from Angola towards the Indian Ocean.

Biden said IMEC is a critical step to increase employment generation and boost food security globally.

He forecast the term 'economic corridor' to gain prominence in the forthcoming decade.

I'm proud to announce that the U.S., India, Saudi Arabia, UAE, France, Germany, Italy and EU finalized a historic agreement for a new India-Middle East-Europe Economic Corridor.

This project is about more than just laying tracks.
This is a game-changing regional investment. pic.twitter.com/JPbwFYcUeQ
— President Biden (@POTUS) September 9, 2023

Prime Minister Narendra Modi on Saturday announced the India-Middle East-Europe Economic Corridor (IMEC) with India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US as its members.

The corridor will provide a new direction to connectivity and sustainable development of the entire world, said PM Modi

In his remarks, the Prime Minister highlighted the importance of physical, digital, and financial connectivity. He said that IMEC would help promote economic integration between India and Europe.

“Today we all have reached an important and historic partnership. In the coming times, it will be a major medium of economic integration between India, West Asia and Europe,” he said. The corridor will give a new direction to connectivity and sustainable development of entire world, said PM Modi

Promoting infrastructure development and greater connectivity.

PM @narendramodi and @POTUS @JoeBiden chaired a special event on Partnership for Global Infrastructure and Investment & India-Middle East-Europe Economic Corridor, on the sidelines of the G20 Summit.

The event… pic.twitter.com/senGrHk6Ul
— Arindam Bagchi (@MEAIndia) September 9, 2023

The rail and shipping corridor is part of the Partnership for Global Infrastructure Investment (PGII) — an initiative of the G7 nations to fund infrastructure projects in developing nations.

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