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Last updated at: (Beijing Time) Sunday, June 16, 2002

More Assistance to Poorer Nations Urged at G-7 Finance Ministers' Meeting

Finance ministers from the G-7 countries in a joint statement Saturday issued at the end of the two-day meeting at Halifax, Canada, calling for more assistance to the Highly Indebted Poor Countries (HIPC).


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Finance ministers from the G-7 countries in a joint statement Saturday issued at the end of the two-day meeting at Halifax, Canada, calling for more assistance to the Highly Indebted Poor Countries (HIPC).

The statement said the ministers at the meeting examined several key development issues in a more detailed fashion.

With regard to the HIPC initiative, the G-7 counties will work with international financial institutions and other donors to promote the participation of all creditors that have not yet done so, in particular some multilateral institutions, to fully participate in the initiatives.

"we support an increase in the use of grants, in the range of 18 percent to 21 percent of the International Development Association program to help the poorest and debt vulnerable countries," the Statement said.

The G-7 countries also support the world Bank's Education Action Plan and will work to support the "Education for All" goalswith developing countries that have credible education plans and strong policy commitments in place.


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