G-8 calls for lending responsibly

Werder-Havel, May 20:

Group of Eight (G8) finance ministers and officials called for responsible practices in lending decisions to African countries and vowed not to forget pledges to the poverty-stricken continent.

Yesterday’s conclusion of two days of talks under tight security at a resort on the shore of Lake Schwielowsee, officials from Germany, Italy, Britain, Japan, Canada, Russia, the US and France reaffirmed ‘our commitment to meeting our responsibilities as donors’ to Africa. Attendees included Gordon Brown, Britain’s next prime minister, and US deputy treasury secretary Robert Kimmitt, who came instead of his boss, Henry Paulson.

The officials said Africa would be a central point of next month’s wider G-8 summit in Heiligendamm, and called for more aid, increased debt relief and improved financial oversight. “We reaffirm our commitment to meeting our responsibilities as donors, in particular the importance of delivering on our aid commitments,” the group said. It added that with improved financial management by African nations and increased investment, there was a need for ‘special attention to particular needs of post conflict and fragile stat-es.’ But advocates for Africa said the summit did not focus enough on ensuring the continent receive funding pledged to it, and urged a more thorough accounting next month wh-en the leaders of the G-8 meet.