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 countries.
The minister of state will reaffirm France’s commitment to a sustainable recovery in line with the Sustainable Development Goals and the Paris Agreement in order to build inclusive and resilient societies. He will reiterate that this issue will be the focus of the Summit on Financing African Economies called for by President Macron due to take place in May 2021.
Jean-Baptiste Lemoyne will express France’s satisfaction following the decision to extend until the end of the year the debt service suspension agreed upon by the G20 and the Paris Club, a measure that will help vulnerable countries to respond to the crisis. He will call on all creditors to implement the commitments made by the G20 and the Paris Club in November 2020 in order to respond in a more structural manner to the debt vulnerability of poor countries.
The joint communiqué adopted at this meeting will be available on the Development Committee website following the meeting.
The next Development Committee meeting will take place in Washington on October 15, 2021.