G20 Seoul Multi-Year Action Plan on Development (Annex II), 11-12 November 2010

Sectors : Remittances, Education capacity, Employment and Training, Economic governance and public finance management, Financial Institutions, markets, services and microfinance, Investment, Energy, ICT, Infrastructure General, Transport, Water and Sanitation, Regional cooperation and integration, International trade: market access, subsidies and aid for trade, Agriculture trade, Food security, Agricultural and biotechnology, Agricultural investment and production, Social protection
Organisation : G20
Date made: 
2010
Level: 
Heads Of State
AttachmentSize
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Commitments in: Migration - Remittances

“ACTION 2: FACILITATE THE FLOW OF INTERNATIONAL REMITTANCES 

We recognize the importance of facilitating international remittance flows and enhancing their efficiency to increase their contribution to growth with resilience and poverty reduction. We ask the World Bank, RDBs and other relevant organizations, including the Global Remittances Working Group, to work with individual G20 members and non-G20 members in order to progress further the implementation of the General Principles for International Remittance Services and related international initiatives aimed at a quantified reduction of the global average cost of transferring remittances...” 

 
Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Employment and Training

“ACTION 2: ENHANCE NATIONAL EMPLOYABLE SKILLS STRATEGIES 

The MDBs, ILO, OECD and UNESCO have agreed today to form a unified and coordinated team with the aim of supporting a pilot group of self-selected LICs to enhance their national strategies to develop skills, improve productivity in existing jobs, and promote investment in new jobs. This action should: 

Focus on strengthening national and regional vocational education and training institutions and programs; 

Build on the G20 Training Strategy submitted at the Toronto Summit and begin by identifying existing gaps that act as barriers to increasing investment in skills development and productivity, including through considering the impact of gender gaps and health problems such as non-communicable diseases; and 

Review the work done and, based on the results achieved, consider a wider roll-out of the program to LICs and middle income countries. (2012)” 

 
Scope: 
International

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

“ACTION 1: ESTABLISH THE GLOBAL PARTNERSHIP FOR FINANCIAL INCLUSION 

We will launch the Global Partnership for Financial Inclusion (GPFI) to provide a systematic structure for implementing the G20 Financial Inclusion Action Plan in close collaboration with the Alliance for Financial Inclusion (AFI), the Consultative Group to Assist the Poor (CGAP), and the International Finance Corporation (IFC). (November 2010) 

The GPFI will (i) facilitate an efficient and effective information sharing mechanism; (ii) coordinate the various financial inclusion efforts (iii) provide systematic monitoring of progress over time (iv) mobilize financial support for activities as needed, and (v) launch and coordinate taskforces to address specific financial inclusion issues (e.g. financial inclusion data). The GPFI will coordinate its work with the APEC initiative and other financial inclusion initiatives.”

 
Scope: 
International

“ACTION 3: IMPLEMENT THE ACTION PLAN FOR FINANCIAL INCLUSION 

We will adopt the G20 Financial Inclusion Action Plan to promote the application of the Principles for Innovative Financial Inclusion (the Principles) and the lessons learned from the SME stocktaking exercise. (November 2010) 

The actions to be implemented include (i) advancing the implementation of the Principles through a commitment by each G20 member to implement at least one of the Principles; (ii) encourage the Standard Setting Bodies to further incorporate financial inclusion objectives into their work; (iii) encouraging further private sector activities to increase access to financial services; (iv) strengthening and expanding data availability for measuring financial inclusion and methodologies for countries that wish to set financial inclusion targets; (v) supporting peer-learning capacity building and training; (vi) improving coordination at the national and international levels; and (vii) integrating financial inclusion into financial assessment programs.”

 
Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Investment

“ACTION: SUPPORT RESPONSIBLE VALUE-ADDING PRIVATE INVESTMENT AND JOB CREATION 

We will identify, enhance as needed, and promote the best existing standards (developmental, social and environmental) for responsible investment in value chains and voluntary investor compliance with these standards. (June 2011)...

...The G20, MDBs, UNCTAD, UNDP, ILO and OECD will, based on the outcomes of this and other work, assist developing countries, in particular LICs, to develop action plans with the view to strengthen financial markets to boost small and medium enterprises (SMEs), improve the business investment climate, maximize the value-added of private investment and support the regulatory framework for foreign and domestic investment. Existing international investment arrangements between G20 countries and LICs will be strengthened to promote investment in LICs. (June 2012)” 

 
Scope: 
International

Commitments in: Infrastructure - Infrastructure General

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS 

We request the regional development banks (RDBs) and the World Bank Group (collectively, multilateral development banks, or MDBs) to work jointly to prepare action plans that increase public, semi-public and private finance and improve implementation of national and regional infrastructure projects, including in energy, transport, communications and water, in developing countries, LICs in particular. The MDBs will pursue actions in the following five areas: 

Information and needs assessment 

• Identify infrastructure gaps, needs and funding requirements, particularly with respect to regional and rural infrastructure, as well as opportunities to promote public-private and semi-public partnerships (June 2011); and 

• Working with developing countries and regional agencies, deliver bankable growth-supporting regional connectivity projects, building on the momentum created by existing initiatives and facilities (e.g., Infrastructure Project Preparation Facility (IPPF), New Partnership for Africa’s Development (NEPAD), African Water Facility (AWF) and Asian Infrastructure Financing Initiative (AIFI)). (November 2011)

Internal practices 

• Identify possible improvements in their lending guidelines, internal policies and practices with a view to overcoming bottlenecks that constrain infrastructure lending, disbursements and the speed of project implementation (June 2011); and 

• Assess the sufficiency of internal resources for project preparation, institutional capacity development and risk mitigation. (June 2011)” 

 
Scope: 
International

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS... 

...Improving the domestic infrastructure investment climate 

• Working with LICs on a demand driven basis, assess and diagnose institutional, regulatory, policy, and public sector capacity bottlenecks in LICs that hamper public, semi-public and private investment in infrastructure and assist LICs in developing action plans within the context of national development goals and strategies to: 

(i) remove the bottlenecks to development, whole life costing and planning for investments in new infrastructure, operations and maintenance of existing infrastructure and rehabilitation of aging infrastructure; 

(ii) improve internal resource mobilization and increase fiscal space; and 

(iii) increase energy access, including by supporting more sustainable paths that make maximum use of cost effective renewable energy and resources, support energy conservation, and increase efficiency. (November 2011)” 

 
Scope: 
International

“ACTION 1: DEVELOP COMPREHENSIVE INFRASTRUCTURE ACTION PLANS... 

...Special measures for regional integration 

• Identify and make recommendations with respect to specific institutional, regulatory and policy changes needed for national policies and regional architecture to respond to the physical and economic needs of regional projects (November 2011); 

• Identify a limited number of regional initiatives with a plan for action to reduce bottlenecks and deliver concrete outcomes in these initiatives (November 2011); and 

• Identify MDBs’ institutional bottlenecks that may impede investment in cross-border and regional infrastructure projects. (November 2011)” 

 
Scope: 
International

“ACTION 2: ESTABLISH A G20 HIGH-LEVEL PANEL FOR INFRASTRUCTURE INVESTMENT 

We have created a High-Level Panel for Infrastructure Investment (HLP) to mobilize support for scaling up infrastructure financing. The HLP will last for one year, until the Summit in France. 

Composition 

Approximately 12 members will be appointed in a non-executive capacity for their expertise and authority in developing country public infrastructure investment needs, public finance and economics, constraints in LICs, sovereign wealth fund investment criteria, public private partnerships, project finance, innovative finance, and risk management (February 2011; December 2010 for appointment of Chair); and 

Administrative and technical support and resources will be provided by a dedicated group of experts from the MDBs and the private sector. 

Terms of Reference 

The HLP will: 

• Review MDB policy frameworks and identify and recommend concrete measures to scale up finance and diversify the sources of affordable financing for infrastructure needs, including from public, semi-public and private sector sources; 

• Take into account the limitations of risk bearing capacity of private and semi-public finance, lessons of successes and failures from the past and ongoing programs, best practice, the importance of durability and whole life costing, and innovative ways to mitigate and intermediate risks to attract finance; and 

• Review the MDB Action Plan and provide independent comment in an iterative process to ensure workability, the maximization of the outcomes and a focus on environmental sustainability and transparency...” 

 
Scope: 
International

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

“ACTION: ENHANCE TRADE CAPACITY AND ACCESS TO MARKETS 

We agree to make progress towards duty-free and quota-free (DFQF) market access for the least developed country (LDC) products in line with Hong Kong commitments without prejudice to other negotiations, including as regards preferential rules of origin. We will explore, in collaboration with the relevant international organizations, the scope for further improvement and cooperation among G20 members leading to the implementation of this commitment. 

We are committed to at least maintaining, beyond 2011, Aid for Trade levels that reflect the average of the last three years (2006 to 2008). We are also resolved to strengthen the role of South-South trade cooperation and to reinforce the involvement of the private sector in these measures. In parallel with the implementation of these commitments, we will ensure that aid flows to other sectors are sustained. (2011 and beyond) 

We will engage fully in the ongoing processes of relevant institutions, in particular the WTO, OECD, World Bank and other multilateral and regional development bodies, to monitor these commitments and evaluate their impact on LICs' capacity to trade. We will consider the outcome of the Global Aid for Trade Review of July 2011 and adjust our Multi-Year Action Plan on Development accordingly. (2011)...” 

 
Scope: 
International

Commitments in: Agriculture - Agriculture trade

“ACTION 2: MITIGATE RISK IN PRICE VOLATILITY AND ENHANCE PROTECTION FOR THE MOST VULNERABLE 

...We are committed to promoting increased procurement from smallholder producers and to strengthen their access to markets, in line with domestic and regional strategies. (Medium-term)...”

 
Scope: 
International

Commitments in: Agriculture - Food security

ACTION 1: ENHANCE POLICY COHERENCE AND COORDINATION 

...We underline the need to fulfil our existing commitments on food security and sustainable agricultural development. We will review and monitor progress on G20 commitments and request the FAO, World Bank and OECD, in cooperation with the l’Aquila Food Security Initiative (AFSI), to monitor progress and report back at the Summit in France. (March 2011 for preliminary report; June 2011 for final report) 

We call for support to build capacity in tropical agriculture technologies and productive systems. (Medium-term)...” 

 

Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Social protection

“ACTION 1: SUPPORT DEVELOPING COUNTRIES TO STRENGTHEN AND ENHANCE SOCIAL PROTECTION PROGRAMS 

Recognizing the vulnerabilities exposed by the global financial crisis, we call upon the UNDP, in consultation with the ILO, MDBs and other relevant international organizations, to: 

Identify lessons learned from the implementation of social protection mechanisms in developing countries, in particular LICs, during and after the crisis; 

Prepare best practice guidelines based on this experience; and 

Make recommendations on how to surmount barriers inhibiting cross-country knowledge sharing and program replication or expansion. 

The primary focus of this work will be on social protection mechanisms that support resilient and inclusive growth by helping vulnerable communities to deal with external shocks. It should consider options for improving the timeliness and accuracy of poverty data, including through further implementation of the UN Global Pulse Initiative.”

 
Scope: 
International