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Third World states endorse G77 development fund

AFP, Doha
Third World countries ended their summit here Thursday with a call on rich nations to boost aid and the creation of a development fund with an initial 20 million dollar contribution from host country, Qatar.
Delegates unanimously approved Qatar's proposal for setting up the "south Fund for Development and Humanitarian Aid" and welcomed Doha's contribution at the close of the two-day summit.
The final communique, dubbed the Doha Declaration, praised China and India for contributing two million dollars each and appealed to
other "capable nations" to give to the fund, which will be based in Doha.
The Group of 77 and China called on to rich nations to "urgently meet the internationally agreed Official Development Assistance (ODA) target of 0.7 percent of donor countries' Gross National Product (GNP)."
The increase would pump tens of billions of dollars into poor nations, whose economies are crippled by lack of finance and huge foreign debt.
Around 50 heads of state and other representatives of member states in the G77 and China gathered in Doha for the summit which
tackled south-south cooperation, south-North relations and the debt crisis in poor nations.
The main donors, the European Union and the United states, last year provided assistance worth 56 and 19 billion dollars respectively, but that constituted under 0.3 percent of their GNP.
The EU recalled at the summit its decision last month to increase its ODA by 20 billion euros (25 billion dollars) annually beginning in 2010.
The leaders however called on the international community to "categorically reject any conditionality in the provision of development assistance."
The declaration also calls for reducing the debt owed by developing countries and cancellation of official debt of all least developed countries. The debt is estimated at some 2.5 trillion dollars.
The summit appealed to the international community to take "urgent and effective steps to eliminate the use of unilateral coercive economic measures against developing countries."
It urged the United states to end its crippling economic sanctions against Cuba and to make "null and void" the so-called syria Accountability Act under which Washington has placed sanctions on Damascus.