WASHINGTON (AFP) ― Japan is contributing more than $32 million to the International Monetary Fund to help finance the global lender’s technical assistance and training work this year, the IMF said Monday.
The money will be used for IMF support in low- and lower middle-income member countries, especially in Asia, during the fund’s 2013 financial year that began on May 1.
Since 1990 Japan has provided financial support for the program, and has contributed more than $465 million to date, benefiting countries such as Cambodia and East Timor.
“Japan’s contribution helps beneficiary countries build stronger institutions and put in place better economic policies, both of which are critical to cope with global uncertainties, increase growth, and reduce poverty,” the Washington-based IMF said.