 energy available and green house gases. The European Union, France, Germany, Japan, Italy, and the presence of leaders from Mauritius and the World Bank. The IAEM ECMOU signed today will accelerate investments to scale high quality infrastructure and the development of economic corridors through the partnership for global infrastructure and investment. Excellencies, I would now invite the leaders to make their remarks. First, we will have the Honourable Prime Minister of India with his remarks. Your Highnesses. Excellencies, I welcome you all to this special event. My friend, President Biden, I am very happy to be able to share this event with you. Today we all have seen an important and historic meeting. In the coming times, India, West Asia and Europe will have an impact on economic integration. This whole world will provide connectivity and development with sustainable development. My Excellency, President Biden, His Royal Highness Crown Prince and Prime Minister Mohammed bin Salman, His Royal Highness Ratapati Sheikh Mohammed bin Jaid, His Excellency Ratapati Macro, His Excellency Chancellor Scholz, Her Excellency President Maloney, and Her Excellency President Bondair Lyon. I give a lot of applause for all of these initiatives. Strong connectivity and infrastructure is the foundation of the development of human resources. India has given this issue to the public in its development journey. Along with the physical infrastructure, it is also investing in the social, digital and financial infrastructure. We are building a strong bond between India and the rest of the world. We have implemented infrastructure projects in areas such as the global south, such as energy, railways, water, technology parks and infrastructure projects. In these efforts, we have given special strength to demand-driven and transparent approaches. Through PGII, it is important to reduce the infrastructure gap in the countries of the global south. Friends, India's connectivity is not limited to the region. Connectivity with all areas is the main priority of India. We believe that connectivity is a source of both business and trust in different countries. It is important to promote connectivity initiatives. Such as infrastructure norms, rules and laws, the respect of all countries, increasing the financial viability rather than increasing the date burden. It is important to follow all the guidelines of the development. When we are taking such a big initiative of connectivity, we are talking about the future generations' dreams and dreams. I would like to thank all the leaders on this historical occasion. Thank you, sir. India and the United States of America co-chair this initiative. And now, as the co-chair, I invite the President of the United States for his remarks. Well, ladies and gentlemen, thank you. All my colleagues, this is someone once said in a similar domestic action that was positive. This is a big deal. This is a real big deal. I want to thank you, Mr. Prime Minister. One Earth, one family, one future. That is the focus of this G20 summit. And in many ways, it is also the focus of this partnership that we are talking about today. Building sustainable, resilient infrastructure, making quality infrastructure investments, and creating a better future. A future that presents greater opportunity, dignity, and prosperity for everyone. Last year, we came together as one to commit to this vision. And this afternoon, I want to highlight the key ways in which the United States and our partners are working to make this a reality. Economic corridors. You can hear that phrase more than once. I expect over the next decade. Economic corridors. As you work to address infrastructure gaps across low-middle-income countries, we need to maximize the impact of our investments. That's why a few months ago, I announced that the United States will work with our partners to invest in economic corridors. In practice, it means we're focusing on regional infrastructure projects that deliver results across multiple countries and in multiple sectors. And today, I'm proud to announce that we finalized historic agreement for a new India, Middle East, Europe economic corridor. As a key part of this corridor, we're going to invest in ships and rail that extends from India all the way to Europe, connected by the UAE, Saudi Arabia, Jordan, and Israel. Bridging ports across two continents, unlocking endless opportunities, including making it far easier to trade, export clean energy, expand access to reliable clean electricity, lay cables that will connect communities and secure a stable internet, contributing to a more stable, more prosperous and integrated Middle East. And I want to thank the sponsors. And I particularly want to thank Prime Minister Modi and the Crown Prince of Saudi Arabia, Mohammed bin Salam, excuse me, Mohammed bin Salam and President von der Leyen and the European Commissions. And since he's not speaking today, I wanted to, maybe he is speaking today. I had no idea he was speaking at any rate. I'm going to stop there. In Saudi, the sub-Saharan Africa, we're working in a private public partnership as well to invest in a trans-African corridor. That includes a new partner, the European Union. President von der Leyen, thank you for making this very possible. Together as part of this corridor, we're going to invest in a new rail line that will extend from the western port of Angola to the DRC, to Zambia and ultimately the Indian Ocean. It's a project that's about far from just laying tracks. It's about creating jobs, increasing trade, strengthening supply chains, boosting connectivity, laying foundations that will strengthen commerce and food security for people across multiple countries. This is a game-changing regional investment and both of these are huge, huge steps forward. But they're far from the only ones. We're continuing to make big investments in infrastructure around the world. That includes a solar energy site and some manufacturing facility and electricity project right here in India. We're continuing to develop economic corridors across Africa, Asia and America. And together with our partners, we're working to mobilize the trillions of investment needed to close infrastructure gaps around the world including the formation of a new investor forum that the United States will host in a couple of weeks. Let me close with this. The world stands at an inflection point in history. A point where decisions we make today are going to affect the course of our future, all of our futures for decades to come. A point where our investments are more critical than ever. So together, let's continue to work as one to seize this moment in history and maximize our collective investments. To find new partners, to unlock new capital. Because when we invest in low- and middle-income countries, all countries benefit. When we invest in emerging economies, all economies benefit. And when we invest in the future of people anywhere, people everywhere benefit. So I want to thank you again for being here. I look forward to working with all of you and I'm going to turn it back to the Prime Minister. Thank you. Thank you, Excellency. We now invite the Crown Prince and the Prime Minister of the Kingdom of Saudi Arabia for his remarks. Thank you. Thank you. Thank you. In conclusion, I'd like to commend the PGII launched by President Biden with the participation of Saudi Arabia in $20 billion. We look forward to the integration of the Initiative and the Economic Corridor Project, which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor. My best regard to you all. Thank you, Your Highness. May I now invite the President of the European Commission for her remarks, please? Your Highnesses, Excellencies. It's been two years since we launched PGII, a joint vision by the world's leading economies, to invest in the infrastructure that low- and middle-income countries need. And two years on, more large-scale projects are seeing the light, and we are presenting two of them today. First, the India-Middle East Europe Economic Corridor. This is nothing but historic. It will be the most direct connection to date between India, the Arabian Gulf, and Europe, with a rail link that will make trade between India and Europe 40% faster, with an electricity cable and a clean hydrogen pipeline to foster clean energy trade between Asia, the Middle East, and Europe, with a high-speed data cable to link some of the most innovative digital ecosystems in the world and create business opportunities all along the way. These are state-of-the-art connections for the world of tomorrow, faster, shorter, cleaner. This corridor is much more than just a railway or a cable. It is a green and digital bridge across continents and civilizations. And this is also the spirit of the second project we announced today, the Trans-African Corridor, which will connect the Port of Lobito in Angola with the Katanga Province in DRC, and the Copper Belt in Zambia. Our goal is not only to connect a landlocked region to the sea. Our partnership will also invest in local value chains, in clean energy, and in skills for the local workforce. This is the spirit of PGII. It is a whole new approach to large infrastructure investment. It is about shared prosperity. It is about real benefits for all partners. Thank you. Thank you, Excellency. May I now invite the President of France for his remarks, please? Thank you so much. Everything was said. I just want to thank Prime Minister Modi for organizing this meeting and President Biden for sharing this meeting with him. We are committed, and we had several exchanges with my friends, Mohammed bin Zayed, and I want to thank you, Your Highness, and Mohammed bin Salman and Narendra Modi on this very important project. Everything was said. Now, with the European Commission, we commit to invest alongside with you on this road. This is a very important project from Asia through Middle East to Europe to offer big opportunities and connect people. Our intention is as well to make it real and to be sure that after this commitment we have concrete results. Especially to have the first global green trade road, meaning having net zero transport infrastructure, so to be sure that we have the best technologies. We have hydrogen being part of this project and we channel all the possible common developments. I think as well our intention is to have a fair process. I mean offering a lot of opportunities to manufacture in the different countries and to cooperate very actively on building these roads, building the innovations going with it and innovating together. I don't want to be longer. Thank you very much for this. This ceremony is very important. We commit together. Thank you, Excellency. May I now invite the Chancellor of Germany for his remarks, please. Thank you and especially thank you Narendra and Joe for convening this event here. I think it is very important to remember that we launched the partnership for global infrastructure and investment last year. And since then, PGII contributes to closing the global investment gap for quality infrastructure. As Emmanuel Macron already said most about this initiative and all the activities we speak about today are already, is already set. So I will not repeat it, just mentioning two questions. The first is we have to be active that these things can happen and this is for me that we then have to also work on the infrastructure, the institutions that can work on financing. And for this I think it is also important to make the work of the World Bank successful. Germany will contribute an additional 305 million Euro of hybrid capital to the World Bank and this is one of the aspects which is a side of the activity here. We also try to work with Africa and the Compact with Africa will convene in Berlin in November also as a sign of creating infrastructure, developing economy, all the things we all together here. Thank you, Excellency. May I now invite the Prime Minister of Japan for his remarks please. Thank you very much. I welcome the holding of this side event on partnership for global infrastructure and investment. On the occasion of the G7 Hiroshima Summit in May this year, as the G7 Chair, Japan hosted a PGI meeting inviting private businesses for the first time, which was attended by leaders of G7 and partner countries. Japan is delivering various transport infrastructure development projects, including the construction of daily metro here in the city to support economic development of partner countries. Going forward, we want to take this effort a step further to expand the scope of cooperation to wider areas including supply chains to link people together by strengthening connectivity. We also intend to work on building industrial value chains in the whole of Bay of Bengal. The Road Network Connectivity Improvement Plan and other northeastern regional development initiatives in India will be organically linked with the Bay of Bengal Industrial Growth Belt Initiative or a big B that we are working on with Bangladesh. Furthermore, the Japan-ASEAN Comprehensive Connectivity Initiative that Japan announced at the ASEAN-related summit meeting will strengthen connectivity in a variety of areas including transport infrastructure, digital connectivity, maritime cooperation, supply chains, electricity as well as human and knowledge connectivity. In this way, Japan will continue to lead the effort for tangible implementation of PGII. To do that, partnership with diverse actors who subscribe to its principles is essential. For the promotion of PGII, I call on everyone gathered here once again to work together. Thank you very much. Thank you, Excellency. May I now invite the Prime Minister of Italy for her remarks. Your Highnesses, Excellencies, when we launched the partnership for global infrastructure and investment just over a year ago, we committed to building better infrastructure for better future in low- and middle-income nations. We committed to cooperate with these nations with an equal, non-predatory approach to create new opportunities and prosperity. Today's launch of the new economic corridor between India and Middle Eastern Europe goes precisely in this direction and is a milestone in strengthening global interconnections. And that is why I want to thank Prime Minister Modi, President Biden and all the others, Ursula von der Leyen and all the others who made it possible for its very important thing. And this will scale up our economy's growth, opening enormous potential for mutual benefits in the business sector. Obviously, Italy is ready to play a decisive role in this process. Also, through the unique expertise of Italian companies in the maritime and railway sector. And we want to contribute in building bridges between the Mediterranean and the Indo-Pacific, also in the fields of energy and digital connectivity via Africa and the Arabian Gulf. In the energy sector, we can work in different fields including the production and transport of green hydrogen from the Middle East to the Mediterranean. We also support the European Commission on the Elmet Project, a high-voltage submarine electricity interconnection that will link Italy to Tunisia. We are working to strengthen digital connections critical for innovation and growth between the wider Mediterranean and Asia, Lurama. Raman, named after India's Nobel laureate in physics, Raman, will connect Europe with India and involves major companies such as Google and Tim Sparkle. However, we also are aware that there is still too much to be done to narrow the infrastructure gap with low and middle income nations. And this is why we will continue work on the partnership for global infrastructure and investment during the Italian G7 presidency next year. Thank you. Thank you, everybody. Thank you, Excellency. Thank you, Your Highnesses and Your Excellencies, for launching the landmark India Middle East Europe Economic Corridor. I would request all media and officials to remain seated and standing in their places while the leaders depart. Excuse me for interrupting, but as we say, my body used to work a point of personal privilege. I did not mention the Sheikh Mohammed of the UAE because I knew he wasn't speaking, but I do want to say thank you, thank you, thank you. I don't think we'd be here without you. Thank you. Thank you, Your Highnesses and Excellencies. I would request all media to remain seated and standing in their positions while the leaders leave the room. Thank you.