Between November 21 to 22, the G20 leaders’ summit will be held virtually, Saudi Arabia said on Monday. The summit’s main focus would be on protecting lives and restoring growth by addressing vulnerabilities uncovered during the pandemic and by laying down foundations for a better future, the government said in a statement.

The G20 has contributed over $21 billion to support the production, distribution and access to diagnostics, therapeutics and vaccines,” the statement said.

To safeguard the global economy, it has also injected $11 trillion and a debt suspension has been initiated for least developed countries allowing them to defer $14 billion in debt payments due this year.

King Salman, who had surgery in July, will chair the November summit, a G20 Saudi secretariat statement said.

The summit with the motto “Realising the opportunities of the 21st century for all” will focus on protecting lives and re-stimulating growth.

The G20 encompasses two thirds of the world’s population, 85 per cent of global economic output and 75 per cent of world trade.

Its members include the European Union, the United States, China, Russia and Australia.