G20 pledges help for developing nations

Ministers from the Group of 20 advanced and emerging economies have pledged to help developing nations improve their food security and infrastructure.

The G20 finance ministers and ministers in charge of development met for the first time in Washington on Friday to discuss how to assist the development of poor nations.

A statement issued after the meeting says the G20 will study ways to help poor countries boost their agricultural production and regulate speculative funds, which could create a sharp rise in food prices, so that they can secure food stably.

It adds that the G20 nations will help developing nations improve infrastructure, including roads.

The G20 ministers urge in the statement that the Asian Development Bank and other institutions steadily increase the amount of funds available for developing countries.

The G20 year by year views aid for developing countries as a key issue for the group. Such countries have high growth potential amid the global economic slowdown.

The G20 plans to draw up an aid program before leaders of its member states meet in France in November.