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• W3025364338 abstract "These remarks were delivered by David Malpass, President of the World Bank Group, at the 2020 Spring meetings virtual press conference on April 17, 2020. He spoke about the joint efforts of IMF and Bank to support the member countries, especially the poorest and most vulnerable. He mentioned about how G20 took up the joint call to provide a suspension in debt services to bilateral creditors during the crisis. He highlighted on how the World Bank Group has focused on taking fast, broad-based action in response to COVID-19. He spoke about IDA, the part of the World Bank that makes grants and very concessional credits, intends to provide over fifty billion US dollars in new resources, and that IDA countries will have bilateral debt service relief beginning May 1, 2020. He cautioned about the expectation of major global recession, and how the World Bank Group is responding forcefully and massively, especially for the IDA countries, the poorest countries, involving significant increases in the highly concessional financing and grants. He mentioned about IFC, the International Finance Corporation, working very actively with companies to try to keep them open and the jobs going, and MIGA, as well, is involved. He urged countries to have flexibility in terms of their markets, in terms of their systems, their applications of good transparent legal standards, and also transparency on debt and investment projects in order to get the best outcomes in strengthening the social safety net. He spoke about the World Bank, looking for ways to do cash transfers through digital financial service systems, which will help build fragile conflict violence countries and strengthen them and create resilience for future downturns. He mentioned about IFC’s role to help the short-term financing needed for imports and exports, and IBRD and IDA, the World Bank programs, also aim to provide quick response aid to governments as they work to have a good support program for small and medium-sized enterprises. He spoke about the five different areas that Bank need to make progress on in terms of the transparency of debt and investment that's going on with developing countries to bring much more attractive to profitable investment coming in from around the world and from private sectors around the world. He concluded by talking about the very active research in vaccines, in therapeutics, in health care systems, that will have a positive impact, so we can all hope for that and work hard on it at the World Bank." @default.
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• W3025364338 date "2020-04-17" @default.
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• W3025364338 title "Remarks by World Bank Group President David Malpass at the Spring Meetings 2020 Press Conference" @default.
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