Jean-Baptiste Lemoyne, Minister of State attached to the Minister for Europe and Foreign Affairs, is taking part in today’s meeting of the Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund (IMF).
The Committee will review the effects of the Covid-19 crisis in developing countries. It will discuss the $14 billion plan adopted on March 17 by the World Bank to fund approximately 100 projects, a third of which are in sub-Saharan Africa, as well as the medium-term effort to put together a $160 billion package focusing on macro-economic support.
Following the historic agreement reached by bilateral creditors within the Paris Club and G20 and spearheaded by France, the Committee will discuss the moratorium on debt service by the poorest countries, adopted by the G20 on April 15. The minister will point out that this will give 77 of the poorest countries flexibility as they deal with the pandemic.
On April 8, France announced that it would immediately deploy €1.2 billion in bilateral resources for Africa, boost the capacities of its research institutes and establish a platform to coordinate technical assistance needs.
For more information visit the IMF’s website.