Germany pledged 3 billion euros at a meeting of G20 finance ministers to help theworld's poorest countries, the finance ministry said on Saturday, Reuters reports. The funds will be made available as long-term loans for the International Monetary Fund's Poverty Reduction and Growth Trust (PRGT). IMF Managing Director Kristalina Georgieva welcomed Germany's "generous pledge" and urged other donors to follow suit. "With the funds ... low-income countries can receive greatly discounted loans and bridge liquidity bottlenecks," the German finance ministry said. It added that Germany will provide a total of 8.7 billion euros for international aid measures in 2020 and 2021.

Source: The Standard July 19, 2020 07:47 UTC