Left Menu
Development News Edition

World Bank to propose $25 bln in extra funding for poorest countries

Reuters | Washington DC | Updated: 14-10-2020 22:00 IST | Created: 14-10-2020 21:10 IST
World Bank to propose $25 bln in extra funding for poorest countries
Representative image Image Credit: www.worldbank.org

The World Bank is calling for $25 billion in further COVID-19 emergency financing to help the world's poorest countries grapple with the massive challenges of the global pandemic, the Bank's president said on Wednesday. David Malpass told finance ministers and central bank governors of the G20 major economies that he would propose the supplemental financing package later this month to deputies of the International Development Association, the World Bank arm that helps the world's poorest countries.

Malpass underscored concerns about the rising risk of "disorderly defaults" among low-income countries, and said the World Bank and International Monetary Fund had proposed a joint action plan to help those for the most heavily-indebted IDA countries.


TRENDING

OPINION / BLOG / INTERVIEW

Turbulence surrounding tobacco control in Ghana

... ...

Smart healthcare: IoT redefining the way healthcare is delivered

As the world is embracing the new wave of digitalization triggered by the pandemic and the arrival of 5G, the adoption of IoT devices will further boom. With adoption set to soar, IoT security issues and other challenges cant be ignored any...

Refugee compassion and response: Ideas to mitigate disasters now and in their future

Their homeland becomes a forbidden territory for them and more likely than not, their journey to foreign soil is no less traumatizing, not to say deadly. It is crucial to help refugees live a life of dignity and purpose....

Inadequate water infrastructure causes a tidal wave of coronavirus in rural Alaska

... ...

Videos

Latest News

Ahmedabad-Kevadia seaplane service suspended for around 3 weeks for maintenance

The seaplane service between Ahmedabad and Kevadiya in Narmada district, the site of the worlds tallest Statue of Unity, in Gujarat was suspended on Saturday for around three weeks for maintenance, its operator SpiceJet said. The service wa...

Maiden F2 podium for Jehan Daruvala at Bahrain GP support race

Indian racing star Jehan Daruvala earned his maiden FIA Formula 2 podium at the Bahrain Grand Prix Support Race. The Red Bull Racing junior is the first Indian to stand on the podium in an FIA Formula 2 Race, in the current era of the champ...

Taapsee Pannu starts shooting for 'Looop Lapeta'

Taapsee Pannu on Saturday commenced filming for her next movie Looop Lapeta. The actor took to social media to share she has kicked off work on the Hindi adaptation of critically-acclaimed German thriller Run Lola Run.Pannu shared a video o...

Farmers at Singhu, Tikri borders stay put, most refuse to go to north Delhi protest site

Thousands of farmers protesting the Centres new agri laws stayed put at the Singhu and Tikri border points for the third consecutive day on Saturday amid heavy police presence even after being offered a north Delhi ground to hold peaceful d...

Give Feedback