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  4. Quad vows to allocate $50 billion for infrastructure in Indo-Pacific region

Quad vows to allocate $50 billion for infrastructure in Indo-Pacific region

The summit comes at a time when relations between China and the Quad member countries have become tense over the last few years.

Vani Mehrotra Written by: Vani Mehrotra @vani_mehrotra New Delhi Updated on: May 24, 2022 19:20 IST
Prime Minister Narendra Modi being received by the Prime
Image Source : PTI

Prime Minister Narendra Modi being received by the Prime Minister of Japan Fumio Kishida at the venue of the Quad Leaders’ Summit at Kantei Palace in Tokyo. 

Four-nation grouping Quad on Tuesday agreed to deepen cooperation on infrastructure, critical to driving productivity and prosperity in the Indo-Pacific region, and share a commitment to addressing debt issues, which have been exacerbated by the coronavirus pandemic in many countries. A joint statement issued after the second in-person Quad summit attended by Prime Minister Narendra Modi, US President Joe Biden, Japanese Prime Minister Fumio Kishida and his Australian counterpart Anthony Albanese, said that Quad partners bring decades of skills and experience together to catalyse infrastructure delivery to the region. The Quad leaders committed to working closely with partners and the region to drive public and private investment to bridge gaps. To achieve this, Quad will seek to extend more than USD 50 billion of infrastructure assistance and investment in the Indo-Pacific, over the next five years. The leaders also welcome the meeting of the development finance institutions and agencies of the four countries in the margins of the Quad meet. The leaders said they are working closely with experts, the region and each other to link their toolkits and expertise to better connect the Indo-Pacific.

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PM Modi Japan Visit Day 2

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  • 3:25 PM (IST) Posted by Hritika Mitra

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  • 2:43 PM (IST) Posted by Vani Mehrotra

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    Reaffirming shared commitment to deepen cooperation on infrastructure, the Quadrilateral Security Dialogue (Quad) countries on Tuesday agreed to allocate USD 50 billion for infrastructure and investment in the Indo-Pacific region over five years.

    Prime Minister Narendra Modi participated in the second in-person Quad Leaders' Summit in Tokyo today, along with leaders of Japan, the US and Australia.

    During 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 resolution of disputes.

  • 2:33 PM (IST) Posted by Vani Mehrotra

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  • 11:40 AM (IST) Posted by Vani Mehrotra

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  • 11:15 AM (IST) Posted by Vani Mehrotra

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    • We took part together in a positive and useful Quad Summit today. India and US partnership in the true sense is a partnership of trust. Our common interests and values have strengthened this bond of trust between our two countries: PM Modi during bilateral talks with US President Joe Biden
    • We share similar views on Indo-Pacific, at the bilateral level, as well as with like-minded countries to work to protect our common concerns. Our discussions today will give speed to this positive momentum: PM Modi in Tokyo
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  • 11:15 AM (IST) Posted by Vani Mehrotra

    Biden speaks during bilateral talks with Modi | Pointers

    • I'm pleased that we have reached an agreement for US Development Finance Corporation to continue this important work in India, supporting vaccine production and clean energy initiatives. I'm glad we are renewing the Indo-US Vaccine Action Program, says US President Joe Biden in a bilateral meeting with PM Modi
    • We also discussed the ongoing effects of Russia's brutal and non-justified invasion of Ukraine and the effect it has on the entire global world order. The US-India is going to continue to consult closely on how to mitigate these negative effects: Biden
    • Mr. Prime Minister, there is so much that our countries can and will do together. I'm committed to making the US-India partnership among the closest we have on earth: US President Joe Biden in a bilateral meeting with PM Narendra Modi, in Tokyo
  • 11:09 AM (IST) Posted by Vani Mehrotra

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  • 11:07 AM (IST) Posted by Vani Mehrotra

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  • 11:05 AM (IST) Posted by Vani Mehrotra

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  • 11:03 AM (IST) Posted by Vani Mehrotra

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  • 11:03 AM (IST) Posted by Vani Mehrotra

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  • 10:04 AM (IST) Posted by Vani Mehrotra

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  • 9:47 AM (IST) Posted by Vani Mehrotra

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    India Tv - Quad summit LIVE Updates

    Image Source : ANI

    White House statement on Quad Summit

  • 7:37 AM (IST) Posted by Vani Mehrotra

    Japanese PM Fumio Kishida speaks at Quad Summit | Pointers

    • The Russian invasion of Ukraine squarely challenges the principles which are enshrined in the UN Charter: Japanese PM Fumio Kishida at Quad Leaders' Summit in Tokyo
    • We should listen carefully to voices of the countries in the ASEAN, South Asia as well as the Pacific Island countries, so as to further advance cooperation, conducive to solving urgent issues facing the vision (for Indo Pacific Region): Japanese PM 
    • The Russian invasion of Ukraine challenges the principles enshrined in UN Charter: Japanese PM Kishida
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  • 7:30 AM (IST) Posted by Vani Mehrotra

    Joe Biden speaks at Quad Summit | Pointers

    • Putin is just trying to extinguish a culture. This is more than just a European issue, it's a global issue. The global food crisis may worsen by Russia blocking Ukraine from exporting its grains. As long as Russia continues the war, the US will work with its partners: US President Biden
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    • The Quad has a lot of work ahead of us. We have a lot of work to keep this region peaceful and stable, tacking this pandemic and next and addressing the climate crisis: US President Joe Biden
  • 7:25 AM (IST) Posted by Vani Mehrotra

    What PM Modi said at Quad Summit | Pointers

    • First of all, I congratulate (Australian) PM Anthony Albanese and extend my best wishes for winning the elections. Your presence amongst us 24 hrs after taking the oath reflects the strength of Quad friendship and your commitment towards it: PM Modi at Quad Leaders' Summit in Tokyo
    • Quad has made an important place for itself before the world in such a short span of time. Today, Quad's scope has become extensive, its form effective. Our mutual trust and our determination are giving new energy and enthusiasm to democratic powers: PM Modi
    • At the Quad level, with our mutual cooperation, a free, open and inclusive Indo Pacific Region is getting encouraged - it is the shared goal of all of us: PM Narendra Modi at Quad Leaders' Summit, in Japan's Tokyo
    • Despite the adverse situation of COVID-19, we have increased our coordination for vaccine delivery, climate action, supply chain resilience, disaster response, economic cooperation & other areas. It has ensured peace, prosperity&stability in Indo-Pacific: PM at Quad Leaders' Summit
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    • I encourage our students to apply for the Quad Fellowship programme and join the next generation of STEM leaders and innovators building a better future for humanity: PM Narendra Modi
  • 7:18 AM (IST) Posted by Vani Mehrotra

    Australian PM speaks at Quad Summit | Pointers

    • My govt is committed to working with your countries. The new Australian govt gives priority to taking action on climate change and building a more resilient Indo-Pacific region through economic, cyber, energy, health &environmental security: Australian PM Albanese at Quad Leaders'meet
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  • 7:17 AM (IST) Posted by Vani Mehrotra

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  • 7:09 AM (IST) Posted by Vani Mehrotra

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    The Quad has been focusing on cooperation in areas such as producing vaccines, connectivity projects, facilitating the mobility of students, and looking at promoting startups and technology collaboration.

  • 7:09 AM (IST) Posted by Vani Mehrotra

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  • 7:08 AM (IST) Posted by Vani Mehrotra

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  • 7:08 AM (IST) Posted by Vani Mehrotra

    Quad Summit 2022 - The expectations

    The summit is expected to lay a long-term strategic groundwork to further solidify cooperation for a free, open and inclusive Indo-Pacific. Delving into the implications of the Russian invasion of Ukraine is also expected to be the central focus of the summit. 

    The leaders of the Quad, comprising India, the United States, Australia and Japan, are set to demonstrate that the grouping is a "force for global good" and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.

    The Quad leaders are also set to discuss the Russian military offensive in Ukraine and the humanitarian as well as security implications of the conflict.