The aim is to help countries cope with the multiple crises caused by the war in Ukraine.
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Substantial financial aid to respond to several crises. World Bank President David Malpass announced Monday (April 18) that he was preparing a $170 billion aid package over 15 months. “to cover the period from April 2022 to June 2023”. The objective: to help countries cope with multiple crises, including the food and humanitarian crisis caused by the war in Ukraine. This question should be addressed during a G20 on Wednesday.
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“We are preparing for a continuous response, given the multiple crises” around the world,” he told reporters at the launch of the Spring Meetings. David Malpass added that the aim was to “commit some $50 billion of that amount over the next three months”.
This envelope is substantial, he noted, recalling, by way of comparison, that the Board of Directors had approved in 2020 the release of 157 billion dollars to deal with the crisis caused by the pandemic.
In addition, David Malpass said he was particularly worried about the indebtedness of poor countries. “We expect the debt crisis to continue to worsen in 2022”he said, pointing out that these countries were subject to “serious financial strains”. In total, 60% of low-income countries are already in debt distress or at high risk of debt distress.