Sat, September 24, 2011
WASHINGTON, Sept. 23 (Xinhua) -- The Group of 20 (G20) leading economies' finance and development ministers on Friday pledged to address development challenges as part of the global economic agenda, as developing countries worry about the spillover effect of debt crisis and slowing growth in advanced economies.
The G20 meeting, which took place on the sidelines of the annual meetings of World Bank and International Monetary Fund in U.S. capital Washington, reiterated the commitment to the Seoul Development Consensus, which put development as a key element of the agenda for global recovery, mapping out the group's work in partnership with other developing countries.
According to a communique issued by the G20, the ministers reviewed ways to strengthen food security and infrastructure to "maximize growth potential and economic resilience in developing countries," in preparation for the G20 Summit due in November in Cannes, southern France.
The ministers said they intend to improve global food security through research, innovation and dissemination mobilizing the G20 agriculture networks. They also announced a pilot project led by the Economic Community of Western African States for a targeted regional emergency humanitarian food reserve.
The meeting took place on the backdrop of a worsening Eurozone debt crisis, which threatens to undermine confidence and throw global economy into territories of more uncertainty. The G20 acknowledged that the economic crisis disproportionately affect the most vulnerable people, and calls for mechanisms to offer better protection and ensure a more inclusive growth path. It also welcomes participation of the private sector in the development agenda.
