G20 Development Working Group Submissions
Saint Petersburg Accountability Report on G20 Development Commitments
G20
1
DG20/elopment Chapter
Development Agenda
and the Role
Agenga
froui
of the G20 Development
Working Group
<<Narrowing the development gap and reducing poverty are integral to our broader objective
of achieving strong, sustainable and balanced growth and ensuring a more robust and
resilient global economy for all>>.
Toronto Declaration, June 26-27, 2010
1.1 Origins of G20 Development Agenda
In the wake of the most severe economic shock
in recent history, G20 leaders recognized that
narrowing the development gap and reducing
poverty were integral to the G20's core objective of
achieving strong, sustainable and balanced growth.
The G20 development agenda was launched
and firmly anchored in the 2009 G20 Framework
for Strong, Sustainable and Balanced Growth
(G20 Framework). Development issues were to be
addressed jointly with global economic challenges,
as they are interdependent with economic growth,
job creation, investment climate and poverty
reduction.
G20 leaders have recognized that a crucial part
of achieving sustained prosperity through the
G20 Framework involves enhancing the role of
developing countries, in particular low income
countries (LICs), in the global economy. Efforts to
narrow the development gap and reduce poverty
80
Chapter 1
G20 Development Agenda and the Role
of the G20 Development Working Group
will contribute to a stronger, more sustainable,
inclusive and resilient global recovery. The G20
has a responsibility to assist the most vulnerable
in the poorest countries that were deeply affected
by recent crises. Furthermore, the G20's actions
to strengthen global economic governance and
financial regulation directly impact on developing
countries, including LICs.
In 2010, the Toronto Summit established the G20
Development Working Group (DWG) with the aim
of agreeing a development agenda. In November
2010, G20 leaders adopted the Seoul Development
Consensus for Shared Growth to "add value to and
complement existing development commitments".
They also adopted the Multi-Year Action Plan on
Development (MYAP) to set the new DWG work
program.View entire presentation