News release: “The Group of 20 should strive to promote long-term, broad-based growth, since this represents the most effective means to help lift tens of millions of people in the developing world out of poverty. Moreover, faster growth in developing countries could kick off a virtual cycle towards more diversified, sustainable and less volatile global demand, the World Bank said. In a background paper prepared for this weekend’s G20 summit entitled “Recovery at the crossroads: Role and implications for developing countries,” the World Bank estimates that just a half percentage point decline in developing country growth—perhaps due to higher capital costs and lower investment from the crisis—would result in 80 million additional people in poverty in ten years. Supporting a pro-growth strategy is especially critical to improve the prospects for low-income countries that rely heavily on commodity exports, remittances, foreign direct investment, and development aid.”