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G20 Nations Pledge to Boost Global Economy


President of France Francois Hollande, U.S. President Barack Obama, Britain's Prime Minister David Cameron and Germany's Chancellor Angela Merkel attend the Transatlantic Trade and Investment Partnership (TTIP) meeting at the G20 the G-20 leaders summit

Leaders of the G-20, representing the world's largest advanced and developing economies, adopted a plan to boost global economic growth by more than $2 trillion over five years, by investing in infrastructure and increasing free trade.

As the G-20 summit ended Sunday in Brisbane, the international leaders also pledged cooperation for strong action against climate change and support for an international response to the Ebola breakout in West Africa.

U.S. President Barack Obama said policies adopted by the G-20 could add 100 million jobs for women over the next decade and stiffen regulation of global corporations.

Australian Prime Minister Tony Abbott said nations will hold each other accountable by monitoring implementation of their commitments to boost growth.

"This year, the G-20 has delivered real, practical outcomes and, because of the efforts that the G-20 has made, this year, culminating in the last 48 hours, people right around the world are going to be better off and that's what it's all about,” Abbott said.

'American leadership'

Obama is facing contentious fights with opposition Republican lawmakers in Washington over immigration and construction of an oil pipeline through the central U.S. But he said the past week he spent in the Asian-Pacific region proved to be a "strong week for American leadership."

He said headway that was made will mean more jobs for Americans, steps toward a cleaner and healthier planet and progress toward saving lives, not just in West Africa, but elsewhere.

The G-20, which represents 85 percent of the global economy, has been plagued by weak growth in Europe, which could record its third recession in six years, as well as in China and Japan, the world's second and third biggest economies after the U.S.