Beijing, June 4 -- British Treasury chief Gordon Brown outlined on Friday what he called a "modern Marshall plan" to boost African development via debt relief, aid and trade.

    Britain has made fighting poverty in Africa a top priority of its yearlong chairmanship of the G8 group of wealthy nations.

    Brown said the new proposals would be presented to G8 finance ministers and leaders ahead of a summit next month in Gleneagles, Scotland.

    "This is not a time for timidity nor is it a time to fear reaching too high. This year, the year of the UN special summit, as well as the year of Britain's GB8 presidency in Gleneagles, is our chance to reverse the fortunes of a continent and it is our opportunity to help transform the lives of millions."

    Brown proposed cancelling all the debts that African nations owe to multilateral institutions like the World Bank, the African Development Bank and the International Monetary Fund.

    He also proposed boosting direct aid payments, selling bonds on the international market to fund immunisation programmes and eliminating trade barriers that make it difficult for African nations to sell goods in rich nations.

    "Taking together these proposals represent a new deal between rich and poor countries. They are a modern Marshall plan for Africa and the developing world."

    Britain also pledged to keep pushing the development agenda outside the G8.

    Brown said he had invited ministers from China, India, Brazil and South Africa to the pre-Gleneagles meeting of finance ministers to discuss the global economy and development.

    The original Marshall Plan channelled more than 13 billion US dollars in to Europe following World War Two to finance its economic recovery.

    It was named after the then US Secretary of State George Marshall.

    (Source: CRIENGLISH.com)