World Bank, IMF urge debt relief for poorer countries hit by coronavirus

During this morning's IMFC call I emphasized: - Breadth & speed in WorldBank #COVID19 operations (underway for 60 countries, more to come) - Need for both multilateral & bilateral co-financing of them to meet needs (1/3) Read my full remarks here:

Today's new WorldBank Group framework for emergency #COVID19 health projects will fast-track approvals, which supports bulk purchasing - IFC is already working with 300+ companies to finance them & is providing over half of the initial WorldBank Group package

During this April’s virtual Spring Meetings Kristalina Georgieva & I will present the joint WorldBank / @IMF_News approach for Debt Relief for Poorer Countries to our Governors. We would welcome strong #G20 support for suspension of bilateral debt repayments by IDA - World Bank nations.

Thanks to @AxelVT_WB for leading a #COVID19 discussion this morning with IMF and multilateral development banks. Group is working to assess and respond to immediate health needs, co-finance country programs, and prepare for long-term economic impact.

The WorldBank Group is quickly moving to implement a rapid & broad global response to #COVID19. On LinkedIn , I have highlighted some of the important steps we have taken this week. Read more below:

During this April’s virtual Spring Meetings Kristalina Georgieva & I will present the joint WorldBank / @IMF_News approach for Debt Relief for Poorer Countries to our Governors. We would welcome strong #G20 support for suspension of bilateral debt repayments by IDA - World Bank nation

Good blog from WorldBank Group on the importance of remittances during #COVID19. Among other key policies, a focus on digital financial transactions will strengthen the post-pandemic recovery.

Countries are receiving fast track support to help in the fight against #Coronavirus. WorldBank Group is prepared to deploy up to $160 billion over the next 15 months. wrld.bg/LBro50z3Nav #COVID19

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When governments allow both women & men alike to fully participate in the economy, there is great potential for growth. The WorldBank & IFC are working to empower women & help them unleash their economic power. Read my #IWD2020 op-ed here:

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The private sector is forward looking & will be reviewing #COVID19 responses based on projected outcomes. Our perceived responses will drive global reactions. As such, the WorldBank Group is focused on both quick response & long term economic resiliency + growth. (5/6)

A timely op-ed here from WorldBank Group's Mari Elka Pangestu on #WorldHealthDay. To support healthcare professionals, nurses & midwives in the fight against #COVID19, we must make sure they have the medical supplies & food they need to perform their jobs.