Bahrain appeals for World Bank Group help

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa has called upon the World Bank Group to develop an action plan to help low-income countries and the fragile and conflict-affected nations tide over the repercussions of the COVID-19 pandemic.

“There is a need to accelerate those countries access to vaccines by manufacturing them locally and boosting job opportunities for woman and youth,” said Shaikh Salman.

Shaikh Salman made the statements while addressing the World Bank’s Development Committee, on behalf of the Arab Group and the Maldives, as part of his participation in the Development Committee meeting, held remotely on the sidelines of the annual meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF).

Arab Group, Shaikh Salman said, welcomes the call to extend the debt relief period for low and middle-income countries, which was launched under the joint international framework to achieve financial sustainability.

He also stressed the need to expand the base of countries benefiting from the programme, based in a specific evaluation of each country.

The Minister indicated that the coronavirus pandemic had exacerbated food security challenges at the global level, with the effects expected to continue beyond 2021.

On this note, he called for creating an integrated approach to improve food security and provide food supplies to the neediest group. Shaikh Salman also stressed the importance of launching immediate reforms to support the water resources sector in the Middle East and North Africa region, as 60% of its population lives in areas suffering from great water stress.

The development committee urged providing sustainable technical and financial support for the hard-hit countries and extending more support to the private sector.

The committee also called on the World Bank to support countries for purchasing vaccines and ensure that developing countries have quick and easy access to vaccines.