The Group of Fifteen (G-15) was established at a Summit Level Group of Developing Countries in September 1989, following the conclusion of the Ninth Non-Aligned Summit Meeting in Belgrade. The Group was originally founded by 15 developing countries. Currently there are 18 member countries but the original name of the Group has been retained. The Group was conceived as a small cohesive body of developing countries to meet on a regular basis at the highest level and make authoritative pronouncements reflecting their common standpoint on the major developments in the world economy and international economic relations. A long-term goal of the G-15 was to be recognized as a logical dialogue partner of the Group of 7 (G-7, now G-8) highly industrialized countries.

The G-15 was established to promote cooperation among developing countries, especially in the areas of investment, trade and technology. The G15 organs comprise the Summit of Heads of State and Government, held biennially, the Summit of Ministers of Foreign Affairs, usually with meeting once a year. The Steering Committee (TROIKA), comprising Foreign Ministers from the preceding, present and future Summit host countries.  The Personal Representatives of Heads of State and Government who meet regularly in Geneva. The Federation of Chambers of Commerce, Industry and Services (FCCIS) and the Technical Support Facility (TSF) located in Geneva. The TSF works under the guidance of the Chairman for the current year and is responsible for giving substantive and technical secretariat support for the activities of the Group and for promoting its objective.