What is very important for developing countries’ economic growth according to the main world lending agencies?

Major world lending agencies said in Washington last Friday that the flow of private capital is crucial for developing countries’ economic growth. The world Bank and the International Monetary Fund said that foreign investment is concentrated in a dozen countries but that they will help to increase the number. The statement was contained in a communique issued by the de velopment committee of the World Bank and IMF, which ended their spring meeting on Friday. The communique said that host countries’ proper investment environment should include a vigorous private sector, a legal frame work, a flexible labour market and prompt service of debt. The development committee also expressed concern for the delays and "risk of breakdown" in the Uruguay round of multinational trade negotiations.