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IMF-World Bank Development Committee Encourages Collaboration with UNFCCC

9 October 2010: The Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund (IMF) on the Transfer of Real Resources to developing Countries (or Development Committee) met on 9 October 2010, in Washington DC, US. The meeting concluded with the adoption of a Communiqué in which ministers recognize the World Bank's work in the area of climate change, including the Climate Investment Funds (CIF), and encourage further collaboration with the UNFCCC. The meeting also highlighted countries' commitment to intensify our efforts to achieve the Millennium Development Goals (MDGs) by 2015, with a stronger focus on results. The Committee was established in October 1974 to advise the Boards of Governors of the IMF and World Bank on critical development issues and on the financial resources required to promote economic development in developing countries. Over the years, the Committee has interpreted its mandate to include trade and global environmental issues in addition to traditional development matters. [World Bank - IMF Development Committee Communiqué]