A/RES/60/209 (e) Acknowledges the vital role the private sector can play in generating new investments, employment and financing for development; 18. Resolves to continue to support the development efforts of middleincome developing countries by working, in competent multilateral and international forums and also through bilateral arrangements, on measures to help them meet, inter alia, their financial, technical and technological requirements; 19. Also resolves to address the development needs of low-income developing countries by working in competent multilateral and international forums, to help them meet, inter alia, their financial, technical and technological requirements; 20. Recognizes that an enabling domestic environment is vital for mobilizing domestic resources, increasing productivity, reducing capital flight, encouraging the private sector and attracting and making effective use of international investment and assistance, and that efforts to create such an environment should be supported by the international community; 21. Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations, and stresses that debt relief can play a key role in liberating resources that should be directed towards activities consistent with poverty eradication, sustained economic growth and sustainable development and the achievement of the internationally agreed development goals, including the Millennium Development Goals, and, in this regard, urges countries to direct those resources freed through debt relief, in particular through debt cancellation and reduction, towards these objectives; 22. Calls upon the developed countries, by means of intensified and effective cooperation with developing countries, to promote capacity-building and facilitate access to and transfer of technologies and corresponding knowledge, in particular to developing countries, on favourable terms, including concessional and preferential terms, as mutually agreed, taking into account the need to protect intellectual property rights, as well as the special needs of developing countries; 23. Recognizes the crucial role that microcredit and microfinance could play in the eradication of poverty, the promotion of gender equality, the empowerment of vulnerable groups and the development of rural communities, encourages Governments to undertake policies to facilitate the expansion of microcredit and microfinance institutions in order to service the large unmet demand among poor people for financial services, including the identification and development of mechanisms to promote sustainable access to financial services, the removal of institutional and regulatory obstacles and the provision of incentives to microfinance institutions that meet established standards for delivering such financial services to the poor; 24. Also recognizes the potential of information and communication technologies to serve as a powerful tool for development and poverty eradication and to help the international community to maximize the benefits of globalization, and, in this regard, welcomes the Tunis Commitment and the Tunis Agenda for the Information Society adopted by the World Summit on the Information Society at its 6