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

“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”

“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...”