Assembly/AU/Dec.284(XIV) Page 1 DECISION ON THE RESPONSE TO THE GLOBAL FINANCIAL AND ECONOMIC CRISIS The Assembly, 1. TAKES NOTE of the Report on initiatives and responses to the global financial and economic crisis by international financial institutions; the multilateral development banks, including the African Development Bank (AfDB); as well as the African countries; 2. COMMENDS the role played by the African Union Commission, the African Development Bank, and the United Nations Economic Commission for Africa (UNECA) in pushing Africa’s position regarding the crisis within various international fora such as the G8 and the G20; 3. EXPRESSES CONCERNS regarding the impact of the global financial and economic crisis on African countries, despite their economies being less integrated into the international financial system; 4. FURTHER COMMENDS efforts made by developed countries, the international financial institutions, African countries, and Regional and Multilateral Development Banks , among others, aimed at mitigating the impact of the crisis; 5. WELCOMES the outcome of the G-20 Summit held in Pittsburgh, USA, in September 2009, including the need for increased voice and representation at the Bretton Woods Institutions; general capital increase for Regional and Multilateral Development Bank, including the African Development Bank (AfDB) and the World Bank; sale of gold; debt relief; review of Debt Sustainability Framework; the need to deliver on ODA commitments; increasing policy space; trade, including conclusion of Doha Round / Trade Negotiations; climate change; and support for regional integration in Africa; 6. CALLS UPON developed countries as well as international financial institutions to urgently implement the recommendations and commitments made during the Pittsburgh G-20 Summit; Adopted by the Fourteenth Ordinary Session of the Assembly in Addis Ababa, Ethiopia on 2 February 2010