Source Pravda.Ru

G-8 Leaders to Pledge $20 Billion to Poor Nations

Leaders from the Group of Eight leading economies on Friday pledged $20 billion for food and agricultural aid to the world's most impoverished countries, and President Obama ended a global summit by saying that despite steps forward on economic, environmental and security issues, much work remains to be done, The Washington Post reports.

Much of that money had been previously pledged to food aid. For instance, of the Obama administration's three-year, $3.5 billion a year pledge, a little less than half is new money. But on Thursday, it looked like G8 leaders would pledge only $12 billion over three years, an actual drop in current aid spending.

"One of the things we're going to have to do is fight the temptation towards cynicism," Mr. Obama said, Wall Street Journal reports.

At the close of the G-8 summit, Obama lauded what he called "significant measures" to improve the environment, global economy and international security.

He said he believes the nations are committed to sustaining economic stimulus plans and financial regulation, implementing measures to contain nuclear weapons and taking "groundbreaking steps forward" to address climate change.

He defended his administration's work to pass a healthcare plan, saying, "We jumped in with both feet," The Los Angeles Times reports.

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