(AFP) – Feb 16, 2011
WASHINGTON — South Korea has agreed to provide a loan of $777 million to the International Monetary Fund for lending to the poorest IMF member states, the multilateral organisation said.
Seoul will provide the funds to the IMF as trustee of the Poverty Reduction and Growth Trust for "new loan resources for low-income countries," the IMF said in a statement Wednesday.
An IMF effort announced in July 2009 seeks more than $1.6 billion for the program, created in 1999 with a goal of poverty reduction in its poorest member countries.
http://www.google.com/hostednews/afp/article/ALeqM5jtCUuHOYcpYKPHka9PuTL09FOXmg?docId=CNG.0b5216fef0bdcfc296e2d896f0f136e6.01
WASHINGTON — South Korea has agreed to provide a loan of $777 million to the International Monetary Fund for lending to the poorest IMF member states, the multilateral organisation said.
Seoul will provide the funds to the IMF as trustee of the Poverty Reduction and Growth Trust for "new loan resources for low-income countries," the IMF said in a statement Wednesday.
An IMF effort announced in July 2009 seeks more than $1.6 billion for the program, created in 1999 with a goal of poverty reduction in its poorest member countries.
http://www.google.com/hostednews/afp/article/ALeqM5jtCUuHOYcpYKPHka9PuTL09FOXmg?docId=CNG.0b5216fef0bdcfc296e2d896f0f136e6.01
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