Remarks at the UN General Assembly High-Level Event on Financing for Development
World Bank Group President David Malpass provided an update on the World Bank’s development finance actions during this part of the pandemic. He spoke about the first goal in the Coronavirus (COVID-19) response was for the World Bank to take broad, fast...
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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/698611601546314578/Remarks-by-World-Bank-Group-President-David-Malpass-at-the-UN-General-Assembly-High-Level-Event-on-Financing-for-Development http://hdl.handle.net/10986/34560 |
| Summary: | World Bank Group President David Malpass provided an update on the World Bank’s
development finance actions during this part of the
pandemic. He spoke about the first goal in the Coronavirus
(COVID-19) response was for the World Bank to take broad, fast
action early and to provide large net positive flows to the
world’s poorest countries. He mentioned that together with
the IMF, and the World Bank Group (WBG) are making progress
on debt transparency and relief. He described the IMF and
WBG working to extend and broaden the debt moratorium and
lay the foundations for debt reduction and would welcome the
UN’s vocal support for full participation by all official
bilateral creditors, including national policy banks. He
also spoke about IMF and WBG working to expand fast-track
Coronavirus (COVID-19) programs to include financing for the
purchase and distribution of vaccines. He cautioned that the
countries will also need to prepare for a different economy
post-COVID, by allowing capital, labor, skills and
innovation to move into new businesses and sectors. He
concluded by saying that If we take action early with the
large creative programs and sources of financing, we can
help countries as the IMF Managing Director puts it, build
forward a better and stronger, a greener, smarter and more
equitable economy. |
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