New York - UN Secretary General Ban Ki-moon called on world financial institutions on Monday to act on the promises made by the world's 20 most advanced economies to bring relief to population struck by the global economic recession. The G-20 committed at its meeting in London in early April to raising more than 1 trillion dollars to help developing countries in response to the severe global economic downturn.

The International Monetary Fund (IMF) said last week it has already received commitments for nearly two-thirds the amount.

Ban said the G-20's commitment was only a first step, urging the World Bank and International Monetary Fund, the World Trade Organization and the UN Conference on Trade and Development to ensure that the G-20 make good on their pledges.

"The London summit was an important beginning," Ban told the groups gathered for a conference at UN headquarters in New York. "We must act urgently to keep the financial crisis and economic recession from evolving into a major humanitarian crisis and a breakdown in peace and security."

He called for international cooperation to deal with the recession and pursue economic recovery in a way that can promotes sustainable development. He called for efforts involving all countries to reform the World Bank and IMF, known as the Bretton Woods institutions established after World War II.

The G-20 backs reforms of those two groups.

A reform of the system that will give developing countries a greater say in the IMF is due to go into effect by 2011. But none of the developing countries pushing for a greater voice have yet contributed to the 1-trillion-dollar commitment. (dpa)