Summary of the G20 Summit Financial Commitments

John Ruthrauff, Senior Manager

April 7, 2009

Below is an outline of the funding commitments made at the G20 Summit on April 2,
2009.
1. The Summit announced a total $1.1 trillion boost for the world economy.
 $750 billion for the IMF, trebling resources.
- $250 billion from bilateral financing by members.
- $500 billion for the New Arrangements to Borrow.
- Market borrowing by the IMF if necessary.
 $250 billion of new Special Drawing Rights (SDRs) at the IMF.
 $100 billion in lending by the Multilateral Development Banks.
- Based on voluntary commitments.
- This lending is to rise to $300 billion over three years.
 $250 billion for trade finance over two years.

2. $40-50 billion will be dedicated for low-income countries. The sources of these
funds are believed to be:
 $19 billion from the total of $250 billion in the IMF’s new SDR issue.
 $6 billion from the sale of IMF gold and surplus income.
 $4 billion from the doubling of the IMF’s concessional lending capacity.
 $6 billion from the Multilateral Development Banks increased.
 $12 billion from the $250 billion trade finance commitment.
 $2 billion from a doubling of SDRs (4th Amendment 1997).

3. G20 re-affirmed commitment to the Millennium Development Goals (MDGs)

4. G20 re-affirmed their commitment to their pledges to increase ODA.

The full communiqué, the annexes, and other papers on the G20 Summit are available
at: www.LondonSummit.co.uk. For an excellent summary and analysis of the G20
commitments see the Oxfam Briefing Note: What Happened at the G20? Initial Analysis of
the London Summit, available at www.oxfam.org/en/policy/what-happened-g20.