World Bank to propose extra financing of $ 25,000 million for poorer countries

0
2
World Bank to propose extra financing of $ 25,000 million for poorer countries




File image of World Bank President David Malpass attending the "1 + 6" meeting at the Diaoyutai State Guest Residence in Beijing


© Reuters/FLORENCE LO
File image of World Bank President David Malpass attending the “1 + 6” meeting at the Diaoyutai State Guest Residence in Beijing


WASHINGTON, Oct 14 (Reuters) – The World Bank is requesting an additional $ 25 billion in emergency funding for COVID-19 to help poorer countries deal with the enormous challenges of the global pandemic, the president of the World Bank said on Wednesday. organism.

David Malpass assured G-20 finance ministers and heads of central banks that he would propose the supplemental financing package this month to delegates from the International Development Association (IDA), the World Bank’s arm that helps the poorest countries. .

Malpass highlighted concerns about the growing risks of “disorderly defaults” among low-income countries and said the World Bank and the International Monetary Fund have proposed joint action to help the most indebted IDA countries.

(Reporting by Andrea Shalal and David Lawder)

LEAVE A REPLY

Please enter your comment!
Please enter your name here