World Bank President David Malpass has announced a $14 billion package for corona crisis response. The aim is to help states to prevent the rapid spread of corona.
Development Minister Gerd Müller: "The corona epidemic is now hitting developing and emerging countries with all its force. The aid programmes announced by the World Bank and IMF as the first measures are an important step which I support. All internationally available instruments must now be bundled in order to support the poorest countries in particular in the containment, diagnosis and treatment of corona quickly and effectively. Germany will also step up its development policy measures in the health sector in a targeted manner.
In addition to the humanitarian consequences, the corona crisis will also have dramatic economic repercussions. In the developing countries, around 70 billion US dollars in capital has already been outflowed in the last two months. Many global supply chains, such as for textiles, are threatening to collapse. Millions of unemployed without any social security, hunger, need and misery are the result.
The IMF and World Bank must rescue the affected developing countries from collapse and set up coordinated economic aid and stabilisation programmes. In addition, loan repayments by the poorest countries should be waived."