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Assignment 1 Envt. MGT
Assignment 1 Envt. MGT
Ans. The G-20 is made up of the finance ministers and central bank
governors of 19 countries:
• Argentina
• Australia
• Brazil
• Canada
• China
• France
• Germany
• India
• Indonesia
• Italy
• Japan
• Mexico
• Russia
• Saudi Arabia
• South Africa
• Republic of Korea
• Turkey
• United Kingdom
• United States of America
Q.d.Areas of agreement
The proposal, from the Ethiopian prime minister, Meles Zenawi, of $50bn
(£44bn) a year for poor countries by 2015 and $100bn (£89bn) by 2020, is
far less than many developing nations had been calling for, but is roughly in
line with a proposal in June by the UK prime minister, Gordon Brown, and
an offer agreed by the EU in October.
Control over the funds would lie with the countries receiving the money.
The G77 group of 130 countries, backed by the least developed countries
and small island states, has long proposed that $400bn (£356bn) a year, or
1% of rich countries' GDP, would be the appropriate figure.
Meles also proposed that 50% of the fund created should be allocated to
vulnerable and poor countries as well as "regions such as Africa and small
island states".
Meles admitted that many Africans would not be happy: "I know my
proposal will disappoint those Africans who ... have asked for full
compensation ... for damage done to our development prospects. My
proposal dramatically scales back our expectation of the level of funding in
return for more reliable funding and a seat at the table in the management of
such fund."