(VOVworld) – The International Monetary Fund (IMF) will expand access to all its concessional facilities by 50 percent, and offer more concessional financing to the poorest and most vulnerable countries in the world.

Deputy Managing Director of the IMF Zhu Min. (Photo: AP)

Zhu Min, Deputy Managing Director of the IMF, made the statement on Monday at the start of a four-day UN Conference on Financing for Development in the Ethiopian capital Addis Ababa. Mr. Zhu said that under the new financing proposals, the IMF will increase access to concessional funds for all Poverty Reduction and Growth Trust eligible countries to strengthen the global safety net for low-income countries. He called on countries to step up their cooperation towards sustainable development goals.