NEW YORK (voa) – Delegates at the World Economic Forum in New York City have pledged to create a $500 million aid program to promote economic development in Africa.
On Saturday, the world’s seven richest industrialized nations plus Russia announced they would establish the program, which would give aid to African governments that create specific programs to boost trade and investment.
The industrialized countries, known as the Group of Seven, are Britain, Canada, Italy, the United States, Germany, France and Japan.
Delegates also participated Saturday in various panel discussions on on helping developing countries, improving health care, and combating poverty.
Microsoft founder Bill Gates says his charitable foundation is spending $50 million on HIV and AIDS prevention in Africa.
U.S. Treasury Secretary Paul O’Neill told the forum the Bush Administration will boost its development assistance budget.
Meanwhile, police lined the streets around the hotel conference site as about one-thousand demonstrators chanted and waved signs during anti-globalization protests. Authorities reported several arrests as well as a few incidents of vandalism and disorderly conduct. But there has been no major violence.
