The paper presents analysis of the G8 and G20 assistance to developing countries in overcoming the consequences of economic and financial crisis. It assesses the G8's and G20's implementation of key global governance functions and highlights their engagement with international organizations. In conclusion the author gives recommendations for rational division of labour between the institutions in international development assistance.

G8, G20, World Bank, Organization for Economic Cooperation and Development, International Monetary Fund, international development assistance, economic and financial crisis, Millennium Development Goals, Official development assistance