[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109790-en":3,"doc-seo-109790-105":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},109790,2336464648746,"Skyler","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","Statement by H.E. Bruno Le Maire - 101st Meeting of the Development Committee - April 17, 2020 (Virtual)","Statement by H.E. Bruno Le Maire to the Development Committee (101st meeting, virtual) addresses the global economic shock caused by COVID-19 and highlights risks for emerging markets, frontier and low-income countries, especially in Sub-Saharan Africa. The statement calls for coordinated World Bank Group and MDB emergency response packages, stresses debt-service suspension for the poorest, and outlines priority funding areas: health investments, safety nets and cash transfers, emergency fiscal support, and private-sector liquidity and trade finance. It also emphasizes IDA replenishments and post-crisis inclusive, sustainable growth aligned with SDGs, the Paris Agreement, and climate resilience.","Public Disclosure Authorized Public Disclosure Authorized  \n`  \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 ONE MEETING  \nWASHINGTON, DC – APRIL 17, 2020  \n(VIRTUAL)  \nDC/S/2020-0018(E) April 17, 2020  \nStatement by  \nH.E. Bruno Le Maire Minister for Economy and Finance  \nFrance  \nStatement by  \nH.E. Bruno Le Maire  \nMinister for Economy and Finance  \nFrance  \n101st Meeting of the Development Committee  \nApril 17, 2020  \nWashington, DC  \n(VIRTUAL)  \nFirst of all, my thoughts are with everyone around the globe affected by COVID-19. I wish to express my deepest gratitude for those who are on the first lines of defence and who are doing crucial work to the benefit of us all.  \nThese are unprecedented times. The scale of this health crisis is generating huge challenges for the global economy, through a negative shock of exceptional magnitude in recent history. The pandemic will be highly detrimental to many emerging markets, frontier economies, and low-income countries. In the Sub-Saharan Africa region, the outbreak is likely to set off the first recession in 25 years, and it has the potential to create a severe food security crisis. The effect of the crisis will be felt even more strongly in countries with weaker institutions, particularly the Fragile, Conflict and Violent (FCV) countries. Today more than ever, we must not forget the poorest in our efforts to remedy the situation, and leave no one behind. In this regard, a strong priority must be our collective response to the consequences of the crisis for Africa.  \nThe pandemic requires an unprecedented response in terms of scope, scale and speed of reaction. In this regard, I commend the timely decisions taken by the World Bank Group and all the MDBs to adopt comprehensive emergency response packages, based on their respective mandates and geographical scopes. In order to maximize their development impact, MDBs should work as a system. It requires close coordination between MDBs and with development partners at the country level to ensure consistency, optimize the use of resources, ensure debt remains sustainable and safeguard progress toward the SDGsand the Paris Agreement.  \nThe financial support presented by the World Bank Group amounts to US$160 billion for emerging and low-income countries. I commend the WBG for its reactivity to set up a robust and commensurate package to its clients, and now look forward to the swift implementation of this funding, around four main areas of priorities. First, targeted, rapidly-disbursed investment programs in the health sector, designed inclose coordination with specialized institutions such as the World Health Organization and the regional development banks. Second, support to the poorest through safety nets and cash transfer programs. Third, emergency fiscal support to affected countries, notably through general and sectorial budget support consistent with IMF programs. Fourth, support to the private sector, both to companies and financial institutions, notably through trade finance, liquidity and working capital programs.  \nFrance supports very strongly the temporary suspension of debt service payment for the poorest countries. France, who chairs the Paris Club and co-chairs with Korea the “G20 International Financial Architecture Working Group ”, where G20 discussions on debt-related issues have been handled in the last few weeks, has played a pivotal role, alongside the key role played by the Saudi G20 Presidency, in helping creditor countries converge on a common term sheet for this initiative. France is committed to following  \nup and monitoring closely the implementation of this debt service suspension initiative, and to help ensure that the strong creditors coordination that is needed to deliver adequately is maintained in the implementation phase. The next step to this initiative will","cbCaireRXwBFBmDy","https://ap.wps.com/l/cbCaireRXwBFBmDy","pdf",45823,5,1,3,"English","en",105,"# Statement by H.E. Bruno Le Maire\n## COVID-19 impact and global priorities\n## MDB coordination and emergency response packages\n## Funding priorities and implementation focus\n## Debt-service suspension initiative and next steps\n## Capital increases, IDA replenishment, and post-crisis recovery","[{\"question\":\"What major economic and development risks does the statement highlight for COVID-19-affected countries?\",\"answer\":\"It stresses unprecedented challenges for the global economy, severe impacts on emerging markets, and heightened risks for Sub-Saharan Africa, including recession and potential food security crisis, especially in fragile and conflict-affected countries.\"},{\"question\":\"Which emergency response areas does the statement outline for the World Bank Group and MDBs?\",\"answer\":\"It focuses on four priorities: rapid-disbursement health investment programs, safety nets and cash transfers for the poorest, emergency fiscal support consistent with IMF programs, and private-sector support including trade finance, liquidity, and working capital.\"},{\"question\":\"How does the statement address debt relief for the poorest countries?\",\"answer\":\"It strongly supports a temporary suspension of debt service payments, with France emphasizing creditor coordination and follow-up monitoring, and later in-depth assessments to initiate debt relief case by case through a multilateral framework.\"}]","Statement by H.E. 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