Zaitstev Y., Deputy Director of the Research Centre for International Cooperation and Development ofthe International Organisations Research Institute of the National Research University “Higher School ofEconomics”, PhD student in World Economy at the Department for International Economic Organizationsand European Integration of the Faculty of World Economy and International Affairs of the NationalResearch University “Higher School of Economics”; E-mail: yuriy.zaitsev@gmail.com

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