WASHINGTON (Sputnik) — According to the release, Tokyo has agreed to boost its funding for a global poverty reduction initiative from $2.5 billion to $5 billion..
The money is earmarked for the IMF-administered Poverty Reduction and Growth Trust (PRGT), the release explained on Tuesday.
"This amendment, made effective on April 20, 2017, constitutes Japan’s fourth loan contribution to the PRGT and puts Japan among the first ten countries to provide new PRGT loan resources under the current fund raising campaign, the release stated.
The IMF launched a campaign in November 2015 to raise more than $15 billion for the poverty reduction initiative, the release added.
