G8 summit draws to a close

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G8 summit draws to a close

NDTV Correspondent, Saturday July 11, 2009, L'Aquila, Italy

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Leaders from Group of Eight nations held individual briefings on Friday after agreeing to provide $20 billion over the next three years to increase food production in developing countries.

On the last day of the G8 summit in L'Aquila, US President Barack Obama said the purpose of the meeting had been to bring nations together to deal with the "challenges of our time".

"These challenges threaten the peace and prosperity of every single nation, and no one nation can meet these challenges alone," said Obama.

Lasting worldwide economic recovery "is still a ways off," Obama declared, but he also said that a disastrous economic collapse apparently has been averted.

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