The second G20 Leaders’ Summit was held in London, United Kingdom on 2 April 2009 during extensive and severe financial turmoil. The leaders produced a Global Plan for Recovery and Reform, in which they pledged to do whatever was required to achieve the following:

• Restore confidence, growth, and jobs;
• Repair the financial system to restore lending;
• Strengthen financial regulation to rebuild trust;
• Fund and reform international financial institutions to overcome the crisis and prevent future ones;
• Promote global trade and investment and reject protectionism, to underpin prosperity; and
• Build an inclusive, green, and sustainable recovery.

The leaders agreed to a $1.1 trillion programme of support to restore credit, growth and jobs in the world economy. This program consisted of the following measures:

• Treble resources available to the International Monetary Fund to $750 billion;
• Support a new special drawing rights allocation of $250 billion;
• Support at least $100 billion of additional lending by the multi-lateral development banks;
• Ensure $250 billion of support for trade finance; and
• Use the additional resources from agreed IMF gold sales for concessional finance for the poorest countries.

The leaders also agreed to establish a new Financial Stability Board (FSB) with a strengthened mandate, as a successor to the Financial Stability Forum (FSF), which would include all G20 countries, FSF members, Spain, and the European Commission.