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World Bank should keep pumping out aid, review capital adequacy-Development Committee

WASHINGTON, Oct 16 (Reuters) - The World Bank should push ahead with its efforts to deliver $160 billion in coronavirus aid by June 2021 and explore additional emergency financing and debt relief for developing countries, the bank’s steering committee said on Friday.

In a communique, the joint World Bank and International Monetary Fund Development Committee said the “bold and decisive” response should be accompanied by a review of the World Bank Group’s financial capacity beyond the current fiscal year to ensure that it remains “adequately capitalized to fulfill its mandate.” (Reporting by David Lawder)

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