Remarks to the International Monetary and Financial Committee
World Bank Group President David Malpass spoke of the steps the Group is taking to provide unprecedented financing to help countries respond to the crisis. He expects to have COVID-19 (Coronavirus) related projects in one hundred countries. He thanked the shareholders for the capital and funding tha...
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| Format: | Speech |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/350571587991123378/Remarks-by-World-Bank-Group-President-David-Malpass-to-the-International-Monetary-and-Financial-Committee-IMFC http://hdl.handle.net/10986/33675 |
| Summary: | World Bank Group President David Malpass spoke of the steps the Group is taking to provide unprecedented financing to help countries respond to the crisis. He expects to have COVID-19 (Coronavirus) related projects in one hundred countries. He thanked the shareholders for the capital and funding that they provided for IBRD, IDA, IFC, and MIGA. He strongly welcomed the G20’s announcement to allow the IDA countries that request forbearance to suspend repayment of official bilateral credit on May 1, 2020. He highlighted about how the IMF Managing Director and World Bank championed the debt initiative, and are committed to taking all the possible steps to support it. He mentioned that beneficiary countries will fully disclose their public sector financial commitments. He concluded by saying that he is certain that substantial progress on the crisis has been made this week from many different angles and that this fast action to provide support during the crisis will help during the downturn and strengthen the recovery. |
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