MARRAKESH (Morocco): International Monetary Fund Managing Director Kristalina Georgieva on Thursday welcomed Japan’s large monetary contribution to a trust fund set up to provide interest-free loans to low-income nations.

At a press conference on the sidelines of an annual meeting of the IMF and World Bank in Marrakesh, Morocco, Georgieva said Japan had made a “very impressive pledge” to the Poverty Reduction and Growth Trust. Japan is the fund’s “largest contributor,” she said.

On Wednesday, Japan announced an additional injection of funds into the PRGT, bringing its total contribution to over 20 pct of the fund’s funding goal of around 3.1 billion dollars.

JIJI Press