China calls for more development aid to poor nations

WASHINGTON, Monday (Xinhua) Chinese Finance Minister Jin Renqing said that prompt and sufficient development assistance by the international community is critical to achieving Millennium Development Goals (MDGs) and called for more aid to poor countries especially those in Africa.

In a statement at the 72nd meeting of the Development committee of the World Bank and the International Monetary Fund (IMF), Jin said that the number of poor people in Africa has doubled with many social indicators lagging far behind the MDGs and so reducing poverty and promoting development in Africa are of extreme importance to achieving the MDGs globally.

China welcomes the G8's commitment to doubling its aid to Africa from around 25 billion dollars in 2004 to 50 billion dollars in 2010 and expanding debt relief to heavily indebted poor countries (HIPCs), he said.

"G8 Finance Ministers' new debt relief initiative presents a very good opportunity for HIPCs, particularly for those in Africa, to achieve the MDGs," he said.

On the world trade negotiations, Jin said that the Doha round of trade negotiation should be an opportunity to promote equitable and fair trade so that it can be a real Development Round and lay a solid foundation for the MDGs.