G-20 Washington Summit commitment

Countries: 
Event/initiative: 
Date of commitment: 
November 2008
Millennium Development Goal: 

Commitment

Committed to ensure that the IMF, World Bank and other Multilateral Development Banks (MDBs) have sufficient resources to continue playing their role in overcoming the financial crisis.

Target

No numerical targets were set.

Progress

Since the start of the crisis, MDBs provided $235 billion in lending, supported by provision of $350 billion in capital increases from G-20 members.

Gap

No numerical targets were set, thus it is difficult to measure a gap.

Additionality

At the G-20 London Summit in 2009, leaders pledged to support at least $100 billion of additional lending by the MDBs.

Data source: 

G20 Toronto Summit statement