The first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the German Presidency was held in Baden-Baden on March 17-18, 2017. The FMCBGs discussed the global economy and framework for growth, the Compact with Africa initiative, international financial architecture, international taxation, financial sector development and regulation, and global governance. 

The FMCBGs strongly endorsed the Compact with Africa initiative. In addition, they:

1. Welcomed the Compact with Africa report, jointly prepared by the AfDB, IMF, and WBG that was submitted to the G-20 before the meeting. 
   
   
2. Endorsed the creation of an advisory group, called the Investment Finance Group, which will ensure continuity in the promotion and implementation of investment compacts in the Finance track. The group will meet biannually at the margin of scheduled G-20 meetings and report to the G-20 deputies.
   
   
3. Welcomed the first group of Compact countries: Cote d’Ivoire, Morocco, Rwanda, Senegal, and Tunisia. The Finance Ministers of the five countries presented their broad plans for the initiative, noting that the CWA complements their national development strategies.

The FMCBGs also issued a communique, that reflected their strong support for the initiative.