In addition to a $50bn (£28.8bn) aid boost and full debt cancellation for 18 countries, access to Aids treatment, debt cancellation and $3bn for the Palestinian authority, the G8 member states have committed to re-examining trade restrictions.
The communique includes a promise of a new peacekeeping force for Africa in return for the commitment by African leaders to “democracy, good governance and the rule of law".
"It isn't all everyone wanted, but it is progress," said Blair.
Nigeria's President Olusegun Obasanjo welcomed the deal, calling the meeting of African leaders with the G8 “a great success”.
A statement for the Sustainable Energy and Economy Network, a worldwide coalition of environmental and development campaigners, said "Urgent action is now required to substantially reduce emissions, reduce fossil fuel dependence and to protect people around the world, especially the vulnerable, the poor and disappearing nations,” and called on G8 leaders to "recognise and act upon the two intertwined crises of debt and global warming".
Disappointed environmental action groups have condemned the statement as a "significant lost opportunity": Stephen Tindale, a spokesperson for Greenpeace, said: "The G8 has committed to nothing new but at least we haven't moved backwards on the environment." Tony Juniper, of Friends of the Earth, said: "The least tangible result of the meeting was the most important, that is a considerable increase in public awareness of the issues of global warming and climate change."