Japan became the first non-European country to contribute to the IMF fund to combat the negative impact of the European debt crisis on global economies.

Jun Azumi, Japanese Finance Minister, said his country will provide $60 billion in loans, hoping other countries to follow Japan's initiation ahead this week's G20 meeting in Washington.

The IMF said last week it will need to raise between $400 billion and $500 billion, where the euro zone provided $200 billion and other European nations contributed with $50 billion.