In this time of intersecting crises – the Covid crisis, the HIV crisis, the inequality crisis, and more – progress on all these crises is being blocked by another crisis: finance.Right now,
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Jean-Baptiste Lemoyne, Minister of State for Tourism, French Nationals Abroad and Francophonie, attached to the Minister for Europe and Foreign Affairs, is taking part in the Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund (IMF), known as the Development Committee, within the framework of the Spring Meetings of the World Bank and the IMF.
The Development Committee will provide an opportunity to take stock of the response by international financial institutions to the global health crisis. The IMF provided more than $110 billion in financial support to 86 countries in the form of emergency and debt cancellation programs and the World Bank launched a $160 billion emergency plan aimed at strengthening national health systems and supporting businesses and households. In coordination with the COVAX initiative, the World Bank contributed $12 billion to support the purchase and deployment of Covid-19 vaccines in developing countr