Cooperation: London and Paris pledge 2,7 billion each to help poor countries

The United Kingdom and France have pledged to provide a EUR 2.7 billion loan each to the International Monetary Fund (IMF) to assist poor countries, reports TheMoneyTime. Finance Ministers from the two countries made the announcement during a press conference in Istanbul, last Saturday, at the G7 Finance summit. It is believed that African countries will be among the first to benefit from this help. The fund is directed towards financing developing projects to help poor countries fight against climate change. “They need help to recover from the economic recession for which they are not responsible,” the Ministers explained.