FM urges World Bank Group to sustain crisis response to mitigate COVID-19 impact


India on Friday asked the World Bank to sustain its crisis response in view of debt sustainability of developing countries.

Speaking at the 103rd Development Committee Plenary of the World Bank and International Monetary Fund (IMF), finance minister Nirmala Sitharaman noted that the World Bank Group (WBG) had stepped up its financing in the wake of Covid-19 pandemic with total financing approvals exceeding $100 billion for the first time.

Addressing the virtual meeting, she appreciated the proactive role WBG played in helping developing countries access vaccines in a timely and affordable manner in coordination with other multilateral agencies like the World Health Organisation and GAVI, the vaccine alliance, a finance ministry statement said.

Items on the agenda of the meeting included WB and IMF debt relief programmes, the WBG initiative for fair and affordable access to vaccines by developing countries, and supporting green, resilient and inclusive development in the wake of the Covid-19 pandemic, the statement said.



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