Germany has pledged an extra 3 billion euros which is $3.4 billion for Global Aid at the meeting Group of -20 financial ministers.
Olaf Scholz who is the German Finance Minister made the pledge as an additional support to the world's poorest countries.
The money would be made available through the International Monetary Fund's "poverty reduction growth trust."
The extra fund which was announced by Scholz at the virtual meeting of the G-20 finance ministers is designed purposely to assist countries access long-term loans.
The funds also is to help the poor countries overcome liquidity bottlenecks, most especially during this coronavirus crisis.
While speaking on the unity Scholz said: "Only together are we strong," and added in a statement that "Germany is assuming responsibility in the international community. "
Scholz said that they were setting a strong signal for solidarity with the additional funds and that they are assisting those who are suffering as a result of the effect of the pandemic.
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