[Asia] China sets up poverty reduction fund

[World News]: MANILA, Philippines, March 11 : The Asian Development Bank said Friday China has contributed $20 million to set up a fund to help fight poverty across Asia.The Manila-based ADB said that the regional cooperation and poverty reduction fund is the first fund to be set up by a developing nation.The money will be used to finance poverty reduction initiatives, and all developing nations which are members of the ADB will be eligible for grants.

--United Press International