At G20, Germany pledges 3 billion euros for poor countries

Germany pledged 3 billion euros ($3.4 billion) at a meeting of G20 finance ministers to help the world’s poorest countries, the finance ministry said on Saturday.

The funds will be made available as long-term loans for the International Monetary Fund’s Poverty Reduction and Growth Trust (PRGT).

In April, IMF officials said they had received pledges of a combined $11.7 billion from Australia, Japan, Canada, France, and Britain to replenish the PRGT. The United States has not yet pledged any money for the programme.

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