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UK's Brown sees G20 proposal on trade credit

Published 03/24/2009, 02:51 AM
Updated 03/24/2009, 02:56 AM

MILAN, March 24 (Reuters) - British Prime Minister Gordon Brown said the upcoming G20 summit will come out with a proposal to provide credit for international trade, according to an interview published in several newspapers on Tuesday.

"The G20 will come out with a concrete proposal to reopen credit lines to support import/export operations," he was quoted as saying in Italy's Il Sole 24 Ore, one of the participants in the interview.

"Relaunching commerce is essential in this phase. For all, but particularly for developing countries," he said.

Brown embarks on a diplomatic offensive on Tuesday to gain support for his plans to boost the struggling world economy ahead of the crucial financial summit in London on April 2.

The summit will try to help pull the world out of its worst downturn since the 1930s.

Brown, finance minister for a decade before he became prime minister in 2007, has taken an energetic role in seeking solutions to the crisis which has ravaged the banking system and sent Britain's and many other economies plunging into recession. (Reporting by Danilo Masoni; Editing by Neil Fullick)

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