[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109953-en":3,"doc-seo-109953-105":30,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":11},109953,687197207919,"Theodora","https://ap-avatar.wpscdn.com/avatar/a000253d6f5f7c60be?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779446848396160552",8,"Research & Report","102nd Meeting of the Development Committee - October 16, 2020 - Virtual - Statement by Abdulhamid Alkhalifa (OFID)","Statement by Abdulhamid Alkhalifa, Director-General of the OPEC Fund for International Development (OFID), delivered at the 102nd Virtual Meeting of the Development Committee on October 16, 2020. The statement explains how COVID-19 has driven unprecedented human and economic losses in developing countries, reversing progress on poverty reduction and threatening the 2030 poverty target. It highlights trade disruption, commodity and oil price declines, reduced tourism and remittances, uneven and slow recovery, and the urgent need for coordinated donor support. It addresses debt vulnerability, including the G20 Debt Service Suspension Initiative (DSSI), and calls for extending relief and strengthening cooperation to accelerate vaccine development and ensure affordable, fair, and equitable access.","Public Disc losure Authorized  \nDEVELOPMENT COMMITTEE  \nPub lic Disc losure Authorized  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND TWO MEETING WASHINGTON, DC – OCTOBER 16, 2020  \n(VIRTUAL)  \nDC/S/2020-0045 October 16, 2020  \nStatement by  \nAbdulhamid Alkhalifa  \nDirector-General  \nof the  \nOPEC Fund of International Development (OFID)  \nStatement by  \nAbdulhamid Alkhalifa  \nDirector-General  \nof the  \nOPEC Fund for International Development (OFID)  \n102nd Meeting of the Development Committee  \nOctober 16, 2020  \nWashington, DC  \n(VIRTUAL)  \nThe outbreak and rapid spread of the COVID-19 pandemic throughout the world, and particularly in developing countries has caused an unprecedented human and economic toll, in particular among the most vulnerable segments of the population. This has thwarted the progress achieved in poverty reduction; for the first time after nearly 20 years of steady decline, the year 2020 will witness an increase in global extreme poverty. The target of ending poverty by 2030 has been put under extreme pressure, by the convergence of the COVID-19 pandemic, conflict and ensuing fragility.  \nThe collapse in economic activity in the world is expected to have a prolonged impact, particularly among developing countries. These countries are suffering from the disruption of international trade, lower commodity prices, especially oil prices, and the decline of tourism revenues as well as remittances. The economic recovery is anticipated to be uneven, long-lasting and slow.  \nThe international donor community has mobilized in unprecedented manner to deliver assistance and financial support that addresses the immediate and future needs of the partner developing countries. The crisis response provided by all donors has helped countries to address the health threats and socio-economic impact of the crisis. This response is complemented by the collective support provided by major donors, which has enabled a tailored approach to best address the immediate needs of our partner countries.  \nThe pandemic impact on debt vulnerability is also of overriding concern. The high-profile Debt Service Suspension Initiative (DSSI), launched by the G20 in April, offered to provide temporary relief by suspending debt repayment of 77 lower-income countries, to all official bilateral creditors. So far 43 countries have formally requested to participate in the Initiative and, as a result, fast and coordinated release of additional resources has supported the efforts of the participating countries in mitigating the impact of the crisis. We consider that an extension ofthe DSSI beyond 2020 would allow lowering the strain on fiscal space for participating countries and channel resources to manage the health and economic impact of the pandemic. We believe that coordinated solutions beyond debt service suspensions will allow the extension of debt relief without compromising the ability of major donors to continue providing ongoing and future support for all developing countries. This would ensure that the cost of debt relief for a debt-distressed country is not borne by other developing countries.  \nWe stand ready to continue supporting, within our means, the global coordinated efforts to help developing countries mitigate the health effects of the pandemic. We also call for a globally strengthened cooperation to accelerate the development ofCOVID-19 vaccines, and to ensure “affordable, fair and equitable access”for all.  \nSince the outbreak of the pandemic, the OPEC Fund has activated a swift approval mechanism to deliver urgently needed support. We have focused on providing financial assistance to partner countries on a fasttrack approach in order to cater for their immediate requests and address investments in crucial sectors. The OPEC Fund will continue engaging in a responsive manner and stand ready to diligently allo","cbCaintlwznVmBxz","https://ap.wps.com/l/cbCaintlwznVmBxz","pdf",160728,4,1,3,"English","en",105,"# Statement overview\n## COVID-19 impact on poverty and development\n## Economic disruption in developing countries\n## Donor mobilization and crisis response\n## Debt vulnerability and DSSI extension\n## Vaccine cooperation and access\n## OFID support mechanism and reforms","[{\"question\":\"What main impacts of COVID-19 does the statement emphasize for developing countries?\",\"answer\":\"It highlights unprecedented human and economic tolls, disruption of poverty reduction progress, and severe socioeconomic effects. It also points to trade disruption, commodity and oil price declines, tourism revenue losses, and reduced remittances.\"},{\"question\":\"How does the statement describe the role of donor support during the crisis?\",\"answer\":\"It states that the international donor community mobilized assistance in an unprecedented manner. It notes that crisis responses from donors, complemented by major-donor collective support, help countries address both health threats and socioeconomic impacts through tailored approaches.\"},{\"question\":\"What is the statement’s position on debt relief and the DSSI?\",\"answer\":\"It stresses concern about debt vulnerability and explains the DSSI’s temporary suspension of debt repayment for 77 lower-income countries. It argues that extending the DSSI beyond 2020 could reduce strain on fiscal space and that coordinated solutions should extend debt relief without shifting the burden to other developing countries.\"}]","102nd Meeting of the Development Committee - October 16, 2020 - Virtual - Statement by Abdulhamid Alkhalifa (OFID) | PDF",1784483184,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":29},"102nd-meeting-of-the-development-committee-october-16-2020-virtual-statement-by-abdulhamid-alkhalifa-ofid","",{"@graph":36,"@context":84},[37,52,67],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,50],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":22},"https://docshare.wps.com/document/research-report/",{"item":51,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/102nd-meeting-of-the-development-committee-october-16-2020-virtual-statement-by-abdulhamid-alkhalifa-ofid/109953/",{"url":51,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":24,"description":14,"dateModified":60,"datePublished":61,"encodingFormat":59,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":41,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":20},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What main impacts of COVID-19 does the statement emphasize for developing countries?","Question",{"text":74,"@type":75},"It highlights unprecedented human and economic tolls, disruption of poverty reduction progress, and severe socioeconomic effects. It also points to trade disruption, commodity and oil price declines, tourism revenue losses, and reduced remittances.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement describe the role of donor support during the crisis?",{"text":79,"@type":75},"It states that the international donor community mobilized assistance in an unprecedented manner. It notes that crisis responses from donors, complemented by major-donor collective support, help countries address both health threats and socioeconomic impacts through tailored approaches.",{"name":81,"@type":72,"acceptedAnswer":82},"What is the statement’s position on debt relief and the DSSI?",{"text":83,"@type":75},"It stresses concern about debt vulnerability and explains the DSSI’s temporary suspension of debt repayment for 77 lower-income countries. It argues that extending the DSSI beyond 2020 could reduce strain on fiscal space and that coordinated solutions should extend debt relief without shifting the burden to other developing countries.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":91},[92,96,100,104,109,114,119,122,127,130,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":105,"doc_module":4,"doc_module_name":46,"category_name":106,"show_sort_weight":107,"slug":108},5,"Comic",60,"comic",{"id":110,"doc_module":4,"doc_module_name":46,"category_name":111,"show_sort_weight":112,"slug":113},6,"Technology",50,"technology",{"id":115,"doc_module":4,"doc_module_name":46,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":46,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":105,"slug":137},19,"General","general"]