FOR IMMEDIATE RELEASE APRIL 2, 2009

Contact: Tawana Jacobs, 202-552-6534 (Office), 202-297-1696 (Cell), tjacobs@interaction.org

Nasserie Carew, 202-552-6561 (Office), 202-341-3814 (Cell), ncarew@interaction.org

InterAction Reaction to G20 Communiqué

LEADERS OF THE WORLD’S LARGEST ECONOMIES AGREE THAT AID TO DEVELOPING NATIONS IS
CRITICAL TO GLOBAL ECONOMIC STABILITY

Washington D. C. -- “We commend the G20 for its collective action in maintaining its commitment to the
world’s poorest and agreeing to new investments in food security. However, these commitments must be realized
to have an impact on the world’s poor,” said Samuel A. Worthington President and CEO of InterAction, an alliance
of 179 US humanitarian and development non-governmental organizations (NGOs). “The bold decision of
President Obama and the other G20 leaders to provide over $1 trillion to restore trust in the banking system and
to initiate job growth and economic stability, is critical to addressing the financial health of the world. The
proposed sale of IMF gold for concessional financing for low income countries along with the provision of $50
billion to the World Bank’s Vulnerability Fund will significantly help address the financial crisis of developing and
emerging countries and lessen the impact of the global financial crisis on the world’s poor.”
InterAction applauds the G20 leaders for their re-commitment to the achievement of the Millennium
Development Goals (MDGs) by 2015 and their ODA pledges of foreign aid. These agreements will increase support
to the international financial institutions (IFIs) including the IMF and the World Bank for the financial stabilization
of low income countries; will strengthen the regulation of financial transactions and markets, especially hedge
funds; and will crack down on tax havens. We urge the G20 to use innovative mechanisms, such as the World
Bank’s Global Food Response Program for a rapid disbursement of the funds within one year. We urge the G20 to
protect recipient countries from the IFI’s pro-cyclical policy conditionalities that limit their ability to respond during
economic downtown. Developing countries should have immediate access to the emergency funds and the ability
to pursue counter-cyclical policies to reduce or neutralize the social impact of this economic downtown as is the
case in G20 countries.
To ensure these commitments are met, InterAction calls for the immediate development and
implementation of a transparent accountability mechanism to monitor decisions, pledges, and disbursements as
agreed to at the Summit. The G20 countries’ agreement to meet again by the end of the year is a good first step to
ensure accountability.
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Visit www.interaction.org to read more about InterAction and its member organizations.
InterAction is the largest alliance US-based nongovernmental international humanitarian relief and development organizations
with 179 members. Our members operate in every developing country, working with local communities to overcome poverty and
suffering by helping to improve their quality of life.