The International Monetary Fund has also agreed to monitor the way in which the G20's global growth plans are implemented in coming years, with managing director Christine Lagarde saying the fund's "expertise" will be put to good use.

The G20 finance minister and central bank governors' meeting in Cairns concluded on Sunday, with Mr Hockey saying G20 finance ministers are now 90 per cent of the way towards meeting a 2 per cent target for additional global growth.

He said more than 900 policy initiatives were agreed to at the weekend that would make the global economy $2 trillion larger over four years.

He also said G20 members had agreed to a "global infrastructure initiative" to boost worthwhile infrastructure investment, involving a global database of infrastructure projects, connected to national databases, to help match potential investors with projects.

"We are developing a mechanism to deliver this global infrastructure initiative for the Brisbane summit," Mr Hockey said.

"While details are still being finalised, we are working towards an implementation plan that would see the creation of a global infrastructure centre as the delivery mechanism. We've worked closely with the business community on our investment agenda and it is fair to say that our engagement with the B20 (the G20's business group) and private sector investors has strongly influenced our thinking."

Mr Hockey said the Organisation for Economic Co-operation and Development (OECD) and the G20 had made an "extraordinary effort" to clamp down on global tax avoidance by multinational corporations in recent months by delivering half of the promised actions from its base erosion and profit shifting (BEPS) action plan.

"We welcome significant progress achieved to date on the two-year action plan with roughly half the actions delivered this year as promised," Mr Hockey said.

"This is an extraordinary effort and I congratulate the OECD and the G20 membership which unanimously endorsed that effort. This work is structural reform at a global level."

As part of the G20's efforts to crackdown on global tax evasion, Mr Hockey said finance ministers had agreed to introduce a 'common reporting standard' so the Australian Tax Office knew when someone opened a bank account anywhere in the world.

"We cannot let any small economy in the world, even the smallest island, not be a part of this process," he said. "We are going to help the developing world actually implement these sorts of tax initiatives so there is nowhere for the tax cheats to hide."

Ms Lagarde said the G20 meeting had been very productive but cautioned that it was not quite "mission accomplished" because work was still needed to increase additional global growth from 1.8 per cent to the G20's 2 per cent target.

The IMF has agreed to monitor how those plans to boost growth were implemented globally.