[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109999-en":3,"doc-seo-109999-105":30,"detail-sidebar-cat-0-en-105":91},{"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},109999,1099514068365,"Aurelia","https://ap-avatar.wpscdn.com/avatar/10000253d8d9f28188e?_k=1776742907772140068",8,"Research & Report","102nd Meeting of the Development Committee - Statement by Hon. Nam-Ki Hong - October 16, 2020 (Virtual)","Statement by Hon. Nam-Ki Hong, Deputy Prime Minister and Minister of Economy and Finance of Korea, speaking on behalf of a constituency of multiple developing countries at the 102nd Development Committee meeting (virtual) on October 16, 2020. The statement assesses COVID-19 impacts on global growth, poverty, human capital, and disrupted value chains, and it supports continued, tailored World Bank Group assistance, including vaccine and therapeutics access. It also addresses debt relief through the Debt Service Suspension Initiative, longer-term debt sustainability approaches, and progress on IDA voting rights and IBRD/IFC shareholding reviews.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \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/2020-0049 October 16, 2020  \nStatement by  \nHon. Nam-Ki Hong  \nDeputy Prime Minister and Minister of  \nEconomy and Finance  \nKorea  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon  \nIslands, Tuvalu and Vanuatu  \nStatement by  \nHon. Nam-Ki Hong  \nDeputy Prime Minister and Minister of  \nEconomy and Finance  \nKorea  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu and Vanuatu  \n102nd Meeting of the Development Committee  \nOctober 16, 2020  \nWashington, DC  \n(VIRTUAL)  \nCOVID 19 Crisis and WBG response  \nGlobal economic outlook is highly uncertain because of impact of the COVID-19 pandemic. Emerging Market and Developing Economies have been more severely affected than advanced economies. Recently, developing countries account for almost 80% of new COVID 19 cases. The number of people living in the extreme poverty is expected to increase sharply. In addition, concerns over productivity loss caused by COVID 19 are growing. Human capital accumulation has been dampened and global value chain has been disrupted.  \nWe welcome World Bank Group’s exceptional response to an unprecedented COVID 19 crisis. We recognize that WBG’s rapid financial support and policy guidance helped many member countries to deal with the pandemic-not just at the onset, but in promoting robust recovery. However, our constituency take note that many commodity-exporting and tourism-dependent developing countries including small island developing states are particularly vulnerable. We urge WBG to provide continuous and tailored support to those countries.  \nWe welcome the recent World Bank’s additional finance approval to assist developing countries with accessing COVID 19 vaccine. We welcome IFC’s Global Health Value Chain Platform. Nevertheless, our constituency countries retain deep concerns about whether sufficient vaccines will be available in a timely manner. We encourage that WBG make efforts to ensure that all member countries are supported in accessing enough vaccines they need. In the meantime, we urge our member countries to guarantee equitable access to vaccine and therapeutics.  \nIBRD and IFC’s capital increases and the record IDA19 replenishment were significant in enabling the World Bank to provide its speedy and exceptional response to the COVID 19 crisis. We welcome the frontloading of resources into FY20 and FY21 to help with the response, and note that decisions on resourcing in the short-term were informed by analysis of the Bank Group’s ability to continue being able to support member countries in FY22 and beyond as they recover and build resilience.  \nYet, given the unprecedented scale and scope of the crisis, the efforts of individual governments, multilateral institutions and the development community are struggling to support the needs of the most  \nvulnerable. Our collective efforts are needed to best enable us to respond to and recover from the health, economic and societal impacts ofCOVID19, and build resilience for the future. As a global community weare better placed to tackle a global crisis.  \nDebt Service Suspension Initiative  \nWe commend that, as of end-August, 43 countries benefitted from Debt Service Suspension Initiative and the Initiative supported COVID 19 related spending. The initiative gave them breathing space to cope with imminent pandemic.  \nOur constituen","cbCaifO9hyq97d86","https://ap.wps.com/l/cbCaifO9hyq97d86","pdf",145311,6,1,3,"English","en",105,"# COVID 19 Crisis and WBG Response\n## Global economic outlook and recovery needs\n## Vaccine access and equitable distribution\n## Financing support and capital replenishment\n# Debt Service Suspension Initiative\n## Extension and longer-term debt sustainability approach\n# Review of IDA Voting Rights and 2020 IBRD and IFC Shareholding Review\n## IDA voting rights progress\n## Shareholding review principles and formulas","[{\"question\":\"What are the main concerns raised about the COVID-19 crisis in this statement?\",\"answer\":\"The statement highlights high uncertainty in the global economy, severe effects on emerging markets and developing economies, rising extreme poverty, productivity losses, dampened human capital accumulation, and disruptions to global value chains.\"},{\"question\":\"How does the constituency call for World Bank Group support regarding vaccines and therapeutics?\",\"answer\":\"It welcomes additional financing and relevant initiatives but urges efforts to ensure timely availability of sufficient vaccines, along with equitable access to vaccines and therapeutics for all member countries.\"},{\"question\":\"What is requested regarding debt relief and debt sustainability?\",\"answer\":\"The statement supports extending the Debt Service Suspension Initiative as a short-term response, and it advocates a broader structured approach to debt sustainability supported by the IMF and the World Bank, emphasizing transparency, creditor coordination, and fair burden-sharing.\"}]","102nd Meeting of the Development Committee - Statement by Hon. Nam-Ki Hong - October 16, 2020 (Virtual) | PDF",1784483390,{"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":86,"head_meta":88,"extra_data":90,"updated_unix":29},"102nd-meeting-of-the-development-committee-statement-by-hon-nam-ki-hong-october-16-2020-virtual","",{"@graph":36,"@context":85},[37,53,68],{"@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":52},"https://docshare.wps.com/document/102nd-meeting-of-the-development-committee-statement-by-hon-nam-ki-hong-october-16-2020-virtual/109999/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":24,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What are the main concerns raised about the COVID-19 crisis in this statement?","Question",{"text":75,"@type":76},"The statement highlights high uncertainty in the global economy, severe effects on emerging markets and developing economies, rising extreme poverty, productivity losses, dampened human capital accumulation, and disruptions to global value chains.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How does the constituency call for World Bank Group support regarding vaccines and therapeutics?",{"text":80,"@type":76},"It welcomes additional financing and relevant initiatives but urges efforts to ensure timely availability of sufficient vaccines, along with equitable access to vaccines and therapeutics for all member countries.",{"name":82,"@type":73,"acceptedAnswer":83},"What is requested regarding debt relief and debt sustainability?",{"text":84,"@type":76},"The statement supports extending the Debt Service Suspension Initiative as a short-term response, and it advocates a broader structured approach to debt sustainability supported by the IMF and the World Bank, emphasizing transparency, creditor coordination, and fair burden-sharing.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":92},[93,97,101,105,110,114,119,122,127,130,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":111,"show_sort_weight":112,"slug":113},"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":106,"slug":137},19,"General","general"]