Germany pledges extra 3 billion euros for Global Aid at G-20

German Finance Minister Olaf Scholz pledged an additional 3 billion euros ($3.4 billion) to the world's poorest countries through the International Monetary Fund's "poverty reduction growth trust."

The extra funding announced at a virtual meeting of the Group of 20 finance ministers is designed to help countries access long-term loans and overcome liquidity bottlenecks, especially during the coronavirus crisis, Germany's finance ministry said in a statement.

Germany is providing 8.7 billion euros in international aid in 2020 and 2021, the ministry said.

"Only together are we strong," Scholz said in a statement. "Germany is assuming responsibility in the international community. "

"With the additional funds we are setting a strong signal for solidarity and are assisting those especially suffering from the consequences of the pandemic."

(CGTN)