Japan will contribute 376.7 billion yen (3.4 billion U.S. dollars) to the International Development Association (IDA), a part of the World Bank fund aiming to help poor countries.
The finance ministry said on Thursday that it aimed to help poor-income countries recover from financial dilemmas amid the COVID-19 pandemic.
The IDA will use the funds to provide assistance to 74 low-income countries, including delivering vaccines, creating job opportunities, and tackling climate change.
The IDA, founded in 1960, provides aids to the poorest countries in the form of zero or low-interest loans for projects and programs that help the development of economic growth and reduce poverty.
Finance Minister, Shunichi Suzuki, said at a virtual two-day meeting of donors hosted by Japan, the world continued to face an unprecedented crisis due to COVID-19.
The decision on the replenishment package of 93 billion U.S. dollars for the fund was separately announced by the World Bank.
