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The World Bank and the International Monetary Fund once again proposed to "mobilize to support Africa"

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In April this year, in order to help Africa cope with the huge challenges posed by the new crown pneumonia epidemic, the World Bank and the International Monetary Fund jointly launched the "Mobilize to Support Africa" initiative.As the epidemic continued to spread in Africa, six months later, the two agencies issued another appeal on October 9th local time to pay attention to Africa.

 

United Nations Secretary-General Guterres said that for African countries, the crisis has caused severe liquidity constraints. Expenditure exceeds income, leading to increased deficits.The International Monetary Fund and multilateral development banks have played an important role in addressing the liquidity needs of the entire African continent. But looking ahead, supporting a lasting recovery will require more resources.

 

World Bank President Malpass pointed out that the new crown pandemic and ongoing conflicts in Africa have exacerbated poverty-related challenges. The invasion of locusts in East Africa and the current floods in Sudan and the entire Sahel are putting the most vulnerable groups at risk.He said that the World Bank has implemented emergency support plans in 111 countries and is currently moving towards the announced goal of providing 160 billion US dollars in rapid financing within 15 months. In the next three years, the World Bank will provide up to 50 billion U.S. dollars in concessional funds in Africa, unswervingly support Africa's recovery, and promote its long-term development.