World Bank and IMF must spearhead a green and inclusive recovery | Letter

A group of European ministers and the EC's commissioner for international partnerships call for measures to foster long-term resilience in the global economy and environment

The world is facing an unprecedented crisis. In just a few months, the Covid-19 pandemic has swept across the world, bringing human tragedy and causing an economic shock of historic proportions. While it poses a tremendous challenge to our economies and societies, the Covid crisis also gives us an opportunity to work towards a future that is more fair, equal and green.

This week, the World Bank Group and the International Monetary Fund are holding their annual meetings. We will discuss our efforts to fight poverty and hunger, support socioeconomic recovery and respond to the emerging debt crisis. Business as usual" is not an option. It is imperative that the World Bank's development financing of $160bn for the coming year is directed towards a sustainable and inclusive future. This is the time to strengthen our economies in line with the sustainable development goals and the Paris climate agreement.