G20 London Meeting of Finance Ministers and Central Bank Governors: Communique, 4-5 September 2009

Sectors : International partnerships and support for Pan-African institutions, Financial Institutions, markets, services and microfinance, Investment
Organisation : G20
Date made: 
2009
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Commitments in: Private Sector development and financial services for the poor - Financial Institutions, markets, services and microfinance

“6. We have made significant progress in strengthening the IFIs, but more needs to be done. We are close to completing the delivery of $850 billion of additional resources agreed in April, including an expanded, more flexible New Arrangement to Borrow; and $50 billion to support social protection and safety nets, boost trade and safeguard development in low income countries. We welcome the overhaul of the IMF’s lending facilities. We encourage the Multilateral Development Banks to make full use of their balance sheets and reaffirm our commitment to ensure they have appropriate capital, recognising that they are fully on track to deliver $100 billion of additional lending. In the period ahead we need to focus on providing resources to low income countries to support structural reforms and infrastructure development.”
Scope: 
International