G20 Seoul Development Consensus for Shared Growth (Annex I), 11-12 November 2010

Sectors : Transparency and accountability, Education capacity, Employment and Training, Gender and economic opportunity, International partnerships and support for Pan-African institutions, Regional cooperation and integration, Economic governance and public finance management, Financial Institutions, markets, services and microfinance, Investment, International trade: market access, subsidies and aid for trade, Domestic resource mobilisation, Food security, Infrastructure General
Date made: 
2010
Level: 
Heads Of State

Commitments

Commitments in: Governance - Transparency and accountability

“We therefore commit ourselves to a Multi-Year Action Plan to achieve these objectives.  This Plan will be based on the following principles, intended to capture the key characteristics of our actions and policies:...

... 6.      Outcome orientation. Focus on feasible, practical and accountable measures to address clearly articulated problems that are serious blockages to significantly improving growth prospects for developing countries. Such measures should have the potential to provide tangible outcomes and be significant in impact.  Implementation of G20 action on development should be monitored through an adequate accountability framework.”

 

Scope: 
International

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

“ACTION 1: CREATE INTERNATIONALLY COMPARABLE SKILLS INDICATORS 

We call upon the World Bank, ILO, OECD, and UNESCO to work together to develop internationally comparable and practical indicators of skills for employment and productivity in developing countries, particularly LICs, to assist them to: 

Better match training to employers’ needs and future labor market opportunities in developing countries; 

Identify gaps in the education system for basic level employable skills; 

Identify the links between education, health problems, gender gaps and life-long skills development; and 

Produce a comparable database across countries to serve as a monitoring tool for assessing employable skills development in LICs.”

 
Scope: 
International

Commitments in: Development partnerships - International partnerships and support for Pan-African institutions

“We therefore commit ourselves to a Multi-Year Action Plan to achieve these objectives.  This Plan will be based on the following principles, intended to capture the key characteristics of our actions and policies:...

2.   ...Global development partnership. Engage developing countries, particularly LICs, as equal partners, respecting their national ownership and recognizing that the most important determinant of successful development is a country’s own development policy. Ensure that actions foster strong, responsible, accountable and transparent development partnerships between the G20 and LICs...”

 
Scope: 
International

Commitments in: Development partnerships - Regional cooperation and integration

“We therefore commit ourselves to a Multi-Year Action Plan to achieve these objectives.  This Plan will be based on the following principles, intended to capture the key characteristics of our actions and policies:...

...3.      Global or regional systemic issues. Prioritize actions that tackle global or regional systemic issues such as regional integration where the G20 can help to catalyze action by drawing attention to key challenges and calling on international institutions, such as MDBs, to respond. Focus on systemic issues where there is a need for collective and coordinated action, including through South-South and triangular cooperation, to create synergies for maximum development impact.”

 
Scope: 
International

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

“We therefore commit ourselves to a Multi-Year Action Plan to achieve these objectives.  This Plan will be based on the following principles, intended to capture the key characteristics of our actions and policies:

1. Focus on economic growth.  Be economic-growth oriented and consistent with the G20 Framework for Strong, Sustainable and Balanced Growth, which requires narrowing of the development gap. More robust and sustainable economic growth in LICs will also go hand-in-hand with their capacity to achieve the MDGs.  Actions and policies should have the capacity to significantly improve the prospects for inclusive, sustainable and resilient growth above business as usual.”

 
Scope: 
International

“We therefore commit ourselves to a Multi-Year Action Plan to achieve these objectives.  This Plan will be based on the following principles, intended to capture the key characteristics of our actions and policies:...

...4.      Private sector participation. Promote private sector involvement and innovation, recognizing the unique role of the private sector as a rich source of development knowledge, technology and job creation. Encourage specific ways to stimulate and leverage the flows of private capital for development, including by reducing risks and improving the investment climate and market size”.

 
Scope: 
International

Commitments in: Infrastructure - Infrastructure General

“In close consultation with our developing country and LIC partners, as well as relevant international and regional organizations with development expertise, we have also identified nine areas, or “key pillars,” where we believe action and reform are most critical to ensure inclusive and sustainable economic growth and resilience in developing countries and LICs.  These areas are: infrastructure, private investment and job creation, human resource development, trade, financial inclusion, growth with resilience, food security, domestic resource mobilization and knowledge sharing. Creating optimal conditions for strong, sustainable and resilient economic growth in developing countries will require reform and transformation across each of these interlinked and mutually reinforcing key pillars.”

Scope: 
International
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