Venezuela

The Group of 15 (G-15) is made up of some of the most outstanding member countries of the Non-Aligned Movement. Founded in 1989 to boost economic cooperation and development among developing nations. The groups works hard to foster South-South relations among those nations, as well as to coordinate North-South aide from industrialized nations to developing countries. One of G-15’s most remarkable successes is the Trade Investment and Technological Information Exchange Program for the South, which includes the creation of a database system that allows exchange of economic, commercial and technological information among developing countries.

The Group of 24 (G-24) was founded on July 15, 1989 during the G-7’s summit meeting in Paris with a view to coordinate financial aid to former Communist countries. The G-24’s member countries and the Organization for Economic Cooperation and Development are exactly the same. Since its foundation, the G-24 has funneled roughly $10 billion to those countries from the former Eastern Bloc. Actual fund endowments have been subjected to the implementation of democratic and economic reforms by their respective nations.
A much different G-24 has been around since 1977 and it shouldn’t be mixed up with the above-mentioned organization. This other G-24 is made up of African, Asian, South American and Central American nations interested in fostering financial interests of the world’s developing countries. Curiously, on April 1993, G-24’s representatives publicly demonized a huge bailout plan for Russia passed by the other Group of 24.