Finance ministers from the world's largest economies say they are determined to prevent a slide into another global recession.

They are unveiling plans for a global initiative to build roads and other infrastructure projects to help boost world growth by $2 trillion over the next five years and create millions of jobs.

Australian Treasurer Joe Hockey says that the plan involves more than 900 individual projects with the potential to lift growth by 1.8 percent over the next five years. He says all the details will be revealed at a November summit.

The finance officials also grappled with more immediate threats of growth slowdowns in Europe, Latin America and China that roiled financial markets this week with concerns the economic recovery could be in danger of faltering.