World Bank Decision on Loan Repayments from Disaster Affected Countries
The World Bank will allow countries affected by disasters to suspend loan payments to the bank.
According to the Financial Times news, World Bank President Ajay Banga will announce measures such as suspending loan payments and adding disaster insurance to new loans in his speech in Paris today.
According to the FT report, the World Bank will also allow countries to “quickly divert” some of their loans in the event of a crisis for emergency response.
TODAY AND TOMORROW THE SUMMIT WILL BE ORGANIZED
The World Bank did not respond to questions from Reuters.
French President Emmanuel Macron will host the summit, which will take place today and tomorrow in Paris to create a framework to reduce the debt obligations of low-income countries and allocate more resources to finance the fight against climate change. (Reuters)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
