Brown Hosts G20 Summit Press Conference
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G20 leaders have concluded their summit in London, with joint consensus on a plan to pull the world out of the financial crisis.
British Prime Minister, Gordon Brown, outlined exactly how the group plans to spend the US$1.1 trillion recovery fund.
He said about half of the amount represents newly promised funding for the IMF to lend to countries affected by the financial crisis.
US$250 billion has been allotted for new Special Drawing Rights for the IMF and US$100 billion will go to multilateral development banks to lend to poor nations. In addition,the IMF will receive a US$6 billion-increase for the fund to lend to the poorest nations.
(CCTV April 3, 2009)