CAFOD urges G-20 leaders to help small businesses, farmers

(November 10,2010) A British Catholic aid agency has called on leaders of the Group of 20, to combat poverty by helping small businesses and small farmers in developing countries. The Catholic Agency for Overseas Development - CAFOD, released a briefing paper on Tuesday, ahead of the Nov. 11-12 summit in Seoul, South Korea, of the G-20 finance ministers and central bank governors. CAFOD, aid agency of the Bishops' Conference of England and Wales, is hoping to persuade wealthy nations to "think big and act small," in prioritizing the needs of small businesses at a meeting dedicated to the global financial system and world economy.
"The economic crisis is affecting everyone across the world, but it is affecting the poorest the worst," CAFOD Director Chris Bain said in a statement on Tuesday. "Even in the most prosperous times, there are millions, who live on the margins of existence, finding it difficult to feed themselves," he said. "These men, women and children are being pushed deeper into extreme poverty by the recession, which ripples out even into the most isolated communities. The G-20 must look to supporting those least resilient to market fluctuations, in order to achieve global sustainable growth," Bain added.
In its four-page policy paper, CAFOD invited delegates to ensure that foreign direct investment and multinational corporations operating in developing countries, contribute to, rather than undermine, local development and environmental sustainability. It also recommended the adoption of an international framework that supports global economic stability, environmental sustainability and works positively toward the trade, finance and investment prospects of developing countries.