Council Conclusions on Supporting Developing Countries in Coping with the Crisis, Brussels, 18 May 2009

Sectors : Economic governance and public finance management, Financial Institutions, markets, services and microfinance, Domestic resource mobilisation, Aid volume, Quality of aid, Debt relief, Gender and economic opportunity, International partnerships and support for Pan-African institutions, Political governance, Peace and security, Economic governance, corruption and crime, International trade: market access, subsidies and aid for trade, Agriculture trade, Transport, Gender and social development
Organisation : EU
Date made: 
2009
Level: 
Heads Of State

Commitments in: Financing for Development - Domestic resource mobilisation

“...9. The EU will step up support for their efforts to mobilise domestic resources for development, including through improving public financial management (including gender responsive budgeting) and the soundness and effectiveness of their tax and customs systems. The EU will also support developing countries in creating an enabling business environment, in order to attract foreign investment. The EU underlines the importance of the concept of corporate social and environmental responsibility.”

Scope: 
International

Commitments in: Financing for Development - Quality of aid

“29. ...The EU will continue implementing its 2007 Strategy on Aid for Trade1 in all its dimensions, including on financial commitments and aid effectiveness principles...”

Scope: 
International

Commitments in: Financing for Development - Debt relief

“11. ...the EU will further work towards enhancing the impact of remittances on development, including through the reduction of transaction costs...”

Scope: 
International

Commitments in: Financing for Development - Aid volume

“3. To ensure a fair and sustainable recovery for all, the EU reaffirms its commitments to support developing countries in meeting the MDGs and to achieve our respective Official Development Assistance (ODA) targets1. The EU will take targeted, counter-cyclical measures aimed at protecting the most vulnerable countries and groups and at sustaining economic activity and employment, with particular attention to the private sector and productive capacity. The EU will also improve the effectiveness of its aid based on the principles outlined in the Accra Agenda for Action (AAA), work together for governance, stability and gender equality and promote an open global economy and more efficient and inclusive global institutions”

Scope: 
International

“13... The EU strongly reaffirms its commitment to achieve its ODA targets 1. It further reaffirms its commitment to channel at least 50% of collective aid increases to Africa and to meet collectively the target of 0.15% to 0.20% of GNP to the LDCs, while fully respecting Member States priorities in development assistance.”

Scope: 
Africa

Commitments in: Peace and security

“12...The EU will continue supporting the existing debt relief initiatives, in particular the Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) and values the Evian approach as an appropriate flexible tool to ensure debt sustainability in times of financial crisis. The EU supports discussions, if relevant, on enhanced forms of sovereign debt restructuring mechanisms, based on existing frameworks and principles, including the Paris Club, with a broad creditors’ and debtors participation and ensuring comparable burden-sharing among creditors with a central role for the Bretton Woods Institutions (BWI) in the debate.”

Scope: 
International

Commitments in: Governance - Economic governance and public finance management

“10. The Council supports closer cooperation between the Organisation for Economic Cooperation and Development (OECD), the Financial Stability Board and the Financial Action Task Force with a view to improve financial transparency and, along with the UN, to fight against corruption, money laundering and other forms of illicit finance...”

Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Financial Institutions, markets, services and microfinance

“22. The EU will support investment with quick impact on productive activities and job creation for all. To this end, the Council notes the importance of increasing trade opportunities at all levels and of income opportunities for women. In this context, the Council invites all donors to work together in order to draw up a pipeline of accelerated infrastructure projects for 2009/2010. It further requests the EIB to reinforce its support to SMEs through the banking sector in all regions, including inter alia in the countries under the European Neighbourhood and Partnership Instrument (ENPI) 1, some of which are being severely hit by the current crisis...”

Scope: 
International

“27. The EU will work with regional organisations and the private sector to align investments in support of transport and trade infrastructure for agricultural products, linking markets and production areas, with particular attention to small farmers...”

Scope: 
International

Commitments in: Trade - International trade: market access, subsidies and aid for trade

“34. The EU remains fully committed to reaching swiftly an ambitious, balanced and comprehensive agreement on the WTO Doha Development Round, which should contain elements of real value for developing countries, particularly the poorest...”

Scope: 
International

Commitments in: Gender - Gender and social development

“20. The EU will take targeted social-protection measures in a gender sensitive way and support developing countries' actions to cope with the direct social impact of the crisis through the creation and strengthening of social protection systems and programmes, including enhancement of financial and in-kind transfers...”

Scope: 
International