Brasilia  - Brazil will make a one-off 10-billion-dollar contribution to the International Monetary Fund (IMF) to finance programmes that help countries survive the global financial crisis, Finance Minister Guido Mantega said Tuesday.

Mantega said the agreement was to be formally signed later this month in the US city of Pittsburgh, Pennsylvania, when world leaders meet for a summit of the Group of 20
(G20) nations. Brazil first indicated it would offer the money in June.

The funds would be drawn out of Brazil's foreign exchange reserves, which currently stand at more than 200 billion dollars. They were to be exchanged for IMF bonds.

Other developing countries that are part of the G20 have made similar moves. Russia and India pledged to contribute 10 billion dollars each, while China would put forward as much as 50 billion dollars.

Singapore on Tuesday promised an extra 1.5 billion dollars for the global crisis lender. The United States and Japan have pledged 100 billion dollars each and the European Union up to 178 billion dollars.

The increase in IMF resources to combat the effects of the financial crisis on poor countries was decided at the last G20 summit in April in London. IMF Managing Director Dominique Strauss-Kahn said over the weekend that the organization had already reached its target of 500 billion dollars in fresh funds.

The agreement marked the first time that emerging economies signalled they may contribute, though many in return demanded greater influence in the decision-making process of major multilateral organs, including the IMF.

Mantega said that there is now a consensus among G20 countries on the need to reform the IMF and its sister-lender the World Bank.

"We have set ourselves the goal of transferring to emerging countries 7 per cent of the (voting) shares of advanced countries," Mantega said at a press conference.

This would increase from 40 to 47 per cent the weight of emerging and developing countries in voting at the two organizations.

Mantega also said he would insist in Pittsburgh on stiffer proposals to regulate the global financial system, arguing that several financial institutions have already returned to the speculative practices that led to the ongoing global crisis.

"That shows the need for regulation. We cannot relax and allow a return to what we had before. What the financial market wants is an absence of rules," he said. dpa