UK calls for ‘long term’ approach to prepare for future pandemics at World Bank meeting
20 Apr 2020 12:32 PM
UK support to World Bank will help build more resilient economies in the developing world and support the global economic recovery.
UK calls for ‘long term’ approach to prepare for future pandemics at World Bank meeting
- International Development Secretary Anne-Marie Trevelyan calls for ‘long-term’ approach to tackling disease outbreaks at World Bank Meetings
- UK support to World Bank will help build more resilient economies in the developing world and support the global economic recovery
- Welcoming the landmark G20 debt relief package for developing countries, Ms Trevelyan highlighted how it will help focus spending to end the pandemic sooner
The World Bank must help developing countries build stronger economies and healthcare systems – leaving them better able to deal with future disease outbreaks and protecting the UK from new infections, International Development Secretary Anne-Marie Trevelyan recently (Friday, 17 April) said at the Bank’s Spring Meetings.
Ms Trevelyan, the UK Governor to the Bank, warned it was also necessary to think longer-term – and with greater international co-operation – to make sure more countries are able to fight against future pandemics in order to protect the world from more deadly outbreaks.
Health experts have warned that if coronavirus is left to spread in developing countries, this could lead to a second wave of the virus in the UK later in the year, putting further pressure on our NHS.
Relieving the debt burden to tackle the pandemic
Low-income economies spend on average around 10% of their government revenues on interest payments, with many countries spending far more, such as Ghana where the figure is closer to 40% - far more than they often can spend on healthcare.
A G20 agreement this week to pause $12 billion worth of debt repayments for the poorest countries means some of this money can now be channelled towards helping them deal with the impacts of the pandemic. This will reduce the risk of a second wave of infections, including to the UK, and help manage the impact of a global economic downturn.
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