Summit diplomacy, also known as informal institutions, has become one of the main platforms in international politics and plays an important role in expanding multilateral relations in the political, economic, and geopolitical fields between different countries. Acting in the form of G-groups, informal institutions have been created to combat the global crisis. One of the newest generations of informal institutions is I2U2, which was created to deal with the globally growing food crisis caused by the COVID-19 crisis and the Ukraine crisis. This article has attempted to explore the underlying motivations behind the establishment of I2U2. The main hypothesis of this article is that the way of cooperation within informal institutions has also changed, and geoeconomic cooperation between regional and global powers is increasing. In this regard, findings show that in the framework of I2U2, India, the UAE, Israel and the US have tried to develop their bilateral cooperation to a multilateral geoeconomic level by creating an "I2U2 food corridor". This article has been written using the qualitative research method as the most appropriate research method in the social sciences.