UN urges 1 trillion for developing world
3/26/2009
Ban Ki-moon, United Nations secretary-general, on Wednesday called on Group of 20 leaders to support a $1,000bn stimulus package for developing countries threatened by the global financial crisis.
In an interview with the Financial Times, Mr Ban said he would use next week’s G20 summit in London of leading developed and emerging economies to call for developed countries to meet unfulfilled overseas aid targets, to provide funding to tackle climate change in poorer regions, and to help with liquidity for emerging economies.
“I will ask them to provide a truly global stimulus package that meets the needs of all developing countries and I would suggest $1,000bn over the next two years,” he said.
In a pre-summit letter to G-20 leaders, Mr Ban wrote:
“While this is a large sum, most of it could be mobilised through existing mechanisms and institutions. In providing this support you will bolster the global economy, help to underpin your own growth and secure global stability.”
Harold
