NEW DELHI, September 10. /TASS/. Leaders of the Group of Twenty (G20) agreed that developing nations should play a more active role in the decision-making process of international financial and economic institutions, the G20 summit’s final statement says.
"We underscore the need for enhancing representation and voice of developing countries in decision-making in global international economic and financial institutions in order to deliver more effective, credible, accountable and legitimate institutions," the document says.
"The 21st century also requires an international development finance system that is fit for purpose, including for the scale of need and depth of the shocks facing developing countries, in particular the poorest and most vulnerable," the leaders said.
According to the document, G20 is also working to raise the efficiency of multilateral development banks and to simplify access to them. These organizations are supposed to facilitate "a quantum jump from billions to trillions of dollars for development.".