Sri Lanka will be represented by President Mahinda Rajapaksa in the Lower and Middle-Income Countries (G11) Summit to open in Jordan today, May 14.

The G-11 Summit takes place concurrent with the World Economic Forum on the Middle East, also being held in Jordan.

The group of developing counties participating in the G-11 Summit will include Pakistan, Sri Lanka, Morocco, El Salvador, Georgia, Croatia, Honduras, Paraguay, Ecuador, Indonesia and the host Jordan.

His Majesty King Abdullah of Jordan is scheduled to meet with leaders of the G-11 nations on the sidelines of the World Economic Forum.

Spokesman for the Jordanian Royal Court Nasser Lozi, who is also Vice-Chairman of the King Abdullah Fund for Development, told the media that the G-11 member states will sign a framework agreement to serve the interests of member countries and mobilize global recognition and international support for the Group, as envisaged by King Abdullah when he initiated the G-11 in September 2006.

In the 2007 summit of the group, King Abdullah called for partnership with the G-8’s most industrialized nations and assistance to reduce the debt of developing states.

G-11, set up with the objective of serving the interests of Lower Middle-Income Countries and to mobilize global recognition and international support, will take into consideration several factors that are affecting the member countries in their summit scheduled to be held today(14).

According to Organizers of the event, the summit will focus on latest developments facing the world in the aftermath of the global economic crisis and implications for lower-middle income countries. Special attention will be drawn at the implication of the decisions reached at the G-20 summit in supporting developing economies to cope with economic hardships resulting from the global financial crisis, and restore growth and long term fiscal sustainability.

The leaders of the participating countries will sign a frame work agreement on Economic, Trade and Cultural Cooperation with measures to prevent from the susceptibility of G11 countries to external shocks.

Apart from these major issues the participants of the summit will take into note to ensure an environment that supports business, entrepreneurship and youth, empowerment of women, eradicate poverty and ultimately realize sustainable growth and development in these lower-middle income countries by introducing an accelerated home grown reform program based on efficiency, transparency and accountability.

At the 2007 summit, the Monarch said G-11 identified four priority areas for international support and cooperation, namely debt burden alleviation, investment promotion, trade development and targeted grant assistance.