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World Bank hopes China will boost donations to finance poorer countries By Reuters


© Reuters. World Bank President David Malpass attends the “1 + 6” panel discussion at the Diaoyutai State Guest House in Beijing, China on November 21, 2019. REUTERS / Florence Lo / Files

(In the second paragraph, correct the name of the organization to the Bretton Woods Committee, not the Bretton Woods Project; it also corrects the description of the group and shows that it is based in the US, not the UK)

WASHINGTON (Reuters) – World Bank President David Malpass said he hoped China would increase its donation to the International Development Association fund for the poorest countries.

Malpass told the Bretton Woods Committee, a US-based advocacy group, that he was reaching out to China, Russia, Turkey, Britain and other donor countries as the bank seeks to raise about $ 100 billion. for the end of the year fund. .

He said China’s economy had grown and was arguing that Beijing could boost its previous, already generous donation to IDA, and Japan was also committed to making a big contribution.

Finance officials from the Group of 20 major economies said on Wednesday they expected an ambitious replenishment of the fund.

Malpass on Monday embraced the $ 100 billion target previously set by African leaders, saying the funding was necessary to address the “tragic setbacks” in development caused by the COVID-19 pandemic.

The multilateral development bank forecasts global growth of 5.7% in 2021 and 4.4% in 2022, but Malpass said disparities between advanced economies and developing countries were worshiping and had delayed efforts to reduce the extreme poverty per year, and in some cases decades.

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