International financial system and development A/RES/74/202 18. Urges multilateral donors and invites the international financial institutions and regional development banks, within their respective mandates, to review and implement policies that support national efforts to ensure that a higher proportion of resources reach women and girls, in particular in rural and remote areas, and invites multilateral and regional development banks to agree on common indicators for analysing the gender impact of their lending; 19. Recognizes that it is important that the International Monetary Fund continue to be adequately resourced, and supports and reiterates its commitment to further governance reform at both the Fund and the World Bank to adapt to changes in the global economy; 20. Notes the lack of progress on a quota increase under the fifteenth general review of quotas of the International Monetary Fund, but welcomes the political agreement reached on the review by the Board of Governors on the occasion of the fortieth meeting of the International Monetary and Financial Committee, held in Washington, D.C., on 18 and 19 October 2019, as well as the support garnered for maintaining the Fund’s current resource envelope with a doubling of the New Arrangements to Borrow and a further temporary round of bilateral borrowing beyond 2020; 21. Recalls the commitment to revisiting the adequacy of quotas and continuing the process of International Monetary Fund governance reform under the sixteenth general review of quotas, including a new quota formula as a guide, with the review to be extended from 2020 to no later than 15 December 2023, and the commitment to ensuring the primary role of quotas in Fund resources, and that any adjustment in quota shares would be expected to result in increases in the quota shares of dynamic economies in line with their relative positions in the world economy and hence likely in the share of emerging market and developing countries as a whole, while protecting the voice and representation of the poorest members, and recommits itself to the broadening and strengthening of the voice and participation of developing countries, including African countries, the least developed countries, landlocked developing countries, small island developing States, middle -income countries and countries in conflict and post-conflict situations, in international economic decisionmaking, norm-setting and global economic governance; 22. Encourages Member States to work together to strengthen and improve a system in which different layers of the global financial safety net are closely coordinated and have clear assignments of responsibilities and to consider enhancing regional financial arrangements to help countries to weather shocks, strengthen their capacity to detect risk and create new regional arrangements where there are not sufficient institutions in place; 23. Acknowledges the importance of the international financial institutions supporting, in line with their mandates, the policy space of each country, while remaining consistent with relevant international rules and commitments, in particular developing countries; 24. Reaffirms that cohesive, nationally owned sustainable development strategies, supported by integrated national financing frameworks, will be at the heart of efforts, reiterates that each country has primary responsibility for its own economic and social development and that the role of national policies and development strategies cannot be overemphasized, expresses respect for each country’s policy space and leadership to implement policies for the eradication of poverty in all its forms and dimensions and for sustainable development, while remaining consistent with relevant international rules and commitments, at the same time recognizes that national development efforts need to be supported by an enabling international economic environment, including coherent and mutually supporting world trade, 19-22415 7/10