Global South alone can’t bear war burden, needs financial support: Modi to G7 | India News

Prime Minister Narendra Modi told G7 leaders that disruptions in fuel, fertilizer, and food supply chains caused by the war in West Asia will continue to impact developing countries for a considerable period. Modi urged global financial institutions to develop support mechanisms to help these nations absorb shocks and maintain economic resilience. He also proposed establishing an International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT) to foster connectivity projects with countries in Africa, Latin America, and the Pacific Islands. The G7 summit is attended by other countries including Brazil, Egypt, South Korea, Kenya, Ukraine, Qatar, and the UAE, as well as international financial organizations like the World Bank, IMF, OECD, and African Development Bank.