BusinessMirror

WB TO GREENLIGHT $4B IN VACCINE FINANCING FOR 50 COUNTRIES IN ’21

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Apart from monitoring the global economy and pushing for green growth, Georgieva said the IMF is also stepping its efforts to make financing available to all countries needing it.

Georgieva said the IMF is providing 13 times more lending to low-income countries this year. e financing is not only going toward efforts to fight Covid-19 but also addressing inequality in these countries and specific social needs such as women empowermen­t.

She said, however, that it would be difficult to ignore debt sustainabi­lity and IMF is finding ways to provide more concession­al funding and boost reserves, particular­ly for countries without market access.

“We are focusing on giving everyone a fair shot. A fair shot in the arm everywhere so we can bring the pandemic to a durable end to underpin sustainabl­e recovery. But also a fair shot to a chance for a better life for vulnerable people and for vulnerable countries,” Georgieva said.

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