A New Partnership for Development
Released after a Work Session with the Secretary-General of UN, the IMF Managing Director,
the President of the World Bank and the World Trade Organization Director-General
Lyon, France, 29 June 1996
For the first time, a meeting took place between the leaders of the major industrialized nations and the heads of the United Nations, the International Monetary Fund, the World Bank and the World Trade Organization on June 29, 1996, at the conclusion of the Lyon Summit.
This meeting served to elaborate on ways to implement the new partnership for development proposed by the Heads of State and Government in their Communiqué of June 28.
In their determination to ensure substantial flows of aid and to provide the necessary support to multilateral action in favor of development, the Heads of State and Government strongly urged the heads of the international organizations to persevere resolutely in their drive to reform and rationalize their institutions. They encouraged them to concentrate more on their areas of excellence and reinforce their coordination. They also urged them to better coordinate their efforts where rapid deployment of assistance for urgent post-conflict and peace-building is necessary. In that respect, they discussed in particular Bosnia's reconstruction.
The new partnership starts from the principle that it is the responsibility of the developing countries themselves to determine and pursue policies to reduce poverty and foster sustainable, job-creating, equitable and environmentally-friendly development. It is based on the conviction that democracy, the advancement of human rights, and sound, transparent governance are the allies of development.
All participants at the meeting stated their conviction of the need to focus grants and concessional financing primarily on the poorest countries, to enable them to implement these policies and thus benefit from the globalization of capital and trade flows. Official aid should be directed in particular at education, health, basic infrastructure and the construction of a State based on the rule of law.
They decided to pay particular attention to Sub-Saharan Africa. A medium-term strategy will be framed for this continent, taking as its starting point the initiative launched by the United Nations Secretary-General on March 15.
Based on solidarity and effective burden-sharing among all participants in the development process, this new partnership should contribute to sustainable development and the success of globalization for the benefit of all.
Source: Released at the Lyon G7 Summit, June 29, 1996