US Treasury Secretary Janet Yellen will travel to India next week to participate in the G20 Finance Ministers and Central Bank Governors Ministerial meetings in Bengaluru, during which her priority will be the war in Ukraine and addressing the challenges for building a stronger, more resilient, and global economy.

"In these engagements, Yellen will join with allies in holding Russia accountable for its illegal invasion of Ukraine, and partner with countries to mitigate the spillover effects of the war. Yellen will also engage with partners to address challenges and build a stronger, more resilient, global economy," the Department of Treasury said in a statement on Friday.

Janet Yellen will hold bilateral meetings with Union Finance Minister Nirmala Sitharaman and United Kingdom Chancellor of the Exchequer Jeremy Hunt.

Yellen’s schedule of events will begin on Feb. 23, where she plans to give a speech about the state of the economy as the US and its allies assist Ukraine in defending itself against the invasion, according to the Treasury Department. She will also talk about bolstering public digital infrastructure and reforming the multilateral development banks, including the International Monetary Fund and World Bank, to make their investment requirements more climate-focused.

This will be the first finance ministers’ meeting since India officially became chair of the Group of 20 leading economies in December. The Indian government has put climate issues at the top of the group’s priorities.

A senior Treasury official who spoke on the condition of anonymity to preview the secretary’s travel plans said Yellen also intends to ask member countries to reduce emissions and will raise funds for climate finance projects to invest in developing countries' infrastructure, agriculture, and renewable sources of energy.

(Edited by : Sudarsanan Mani)