WASHINGTON, Oct. 2 (Xinhuanet) -- The Joint Development Committee of the World Bank and the International Monetary Fund (IMF) said Saturday that the two organizations must enhance efforts to help developing countries advance their economy and shake off the constraint of aid absorptive capacity.

    In a communique issued at the end of its joint ministerial meeting, the committee said the global economic growth is strong and the growth is supported by exceptional robust development in developing countries as the world benefits from significant reforms undertaken by many countries over recent years.

    To help developing countries take advantage of new opportunities resulting from a better economic environment and strengthen the foundations for economic growth, the committee welcomes the renewed focus being given by the World Bank to private sector development, which will improve the investment climate and consolidate financial sectors, the communique said.

    The committee said reform efforts in developing countries must be supported by improved aid effectiveness, increased aid and other financial flow and coherent policies to achieve development result.

    The communique said debt sustainability is an essential underpinning for growth in developing countries and the committee welcomes the development of a forward-looking debt sustainability framework that aims to help low-income countries manage their borrowings and avoid a buildup of unsustainable debt. Enditem