Economy - Under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - the work of the fifteenth session of the G20 leaders" summit meetings began virtually yesterday, and the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud delivered the following speech at the beginning of the summit: Your Majesties, Excellencies, Highnesses and Dignitaries, honored participants, peace be upon you, God's mercy and blessings: We are pleased to welcome you to the Riyadh Summit, the second summit of this year, and we regret that we were not able to receive you in Riyadh due to the difficult circumstances we all face this year. We are pleased to see you all today and thank you for participating.

Coronavirus pandemic shock

This year has been an exceptional year, as the novel coronavirus pandemic has shocked the entire world in a short period of time, and this pandemic has caused the world economic and social losses. Our peoples and economies are still suffering from this shock, but we will do our best to overcome this crisis through international cooperation. At our extraordinary summit last March, we pledged to mobilize urgent resources and at the beginning of the crisis, we all contributed more than twenty-one billion dollars to support global efforts to address the pandemic."

We will do our best to overcome this crisis through international cooperation.

$11 trillion to support individuals and businesses

King Salman's speech said: We have also taken exceptional measures to support our economies by injecting more than eleven trillion dollars to support individuals and companies, and social protection networks have been expanded to protect those at risk of losing their jobs and sources of income. We have provided emergency support to developing countries. This includes the G20 initiative to suspend debt service payments to low-income countries. It is our duty to rise to the challenge during this summit and reassure our people and give them hope by adopting policies to face this crisis.

Preserving the planet

Although the COVID-19 pandemic has prompted us to quickly refocus our attention to address its effects, the key themes we set under this overall goal - empowering people, preserving the planet, and shaping new horizons - remain key to overcoming this global challenge and shaping a better future for our peoples. In the near future, we must address the vulnerabilities that have emerged in this crisis, while protecting lives and livelihoods.

For the foreseeable future, we must address the vulnerabilities that have emerged in this crisis.

Reopening the economy and borders of countries

While we are encouraged by the progress in finding vaccines, treatments and diagnostic tools for COVID-19, we must work to create the conditions for equitable and affordable access for all people. At the same time, we must be better prepared for future pandemics. We must continue to support the global economy, reopen our economies and borders to facilitate the movement of trade and people, and provide support to developing countries in a coordinated manner to maintain the development progress made over the past decades.

We must continue to support the global economy and reopen our economies and borders to facilitate the movement of trade and people.

Sustaining strong and inclusive growth

In addition to laying the building blocks for strong, sustainable and inclusive growth, we must provide opportunities for all, especially women and youth, to enhance their role in society and the labor market through education, training, job creation, supporting entrepreneurs, promoting financial inclusion and bridging digital divides between individuals.

Furthermore, we must work to provide opportunities for all, especially women and youth, to enhance their role in society and the labor market. <We must also create the conditions for a more sustainable economy. We have promoted the principle of a circular carbon economy as an effective approach to achieving our climate change goals and ensuring cleaner, more sustainable and affordable energy systems, and we must lead the international community in preserving and protecting the environment.

We must also create the conditions for a more sustainable economy.