NEW DELHI

Leaders of India, Brazil, South Africa and the US reaffirmed their "shared commitment to the G20 as the premier forum for international economic cooperation to deliver solutions for our shared world," according to a statement late Saturday.

"As the G20’s current and next three Presidencies, we will build on the historic progress of India’s G20 Presidency to address global challenges," it said. "In this spirit, together with the World Bank President, we welcome the G20’s commitment to build better, bigger, and more effective multilateral development banks."

The statement said the "commitment underscores what we can do, by working together through the G20, to support our people toward a better future."

India holds the presidency of the G-20 until Nov. 30. Brazil will assume the presidency in 2024 and South Africa will take over in 2025.