By Folasade Akpan
The International Monetary Fund (IMF) said the European Union on Monday announced a contribution of 183 million euros, (217 million dollars) to the IMF’s Catastrophe Containment and Relief Trust (CCRT).
Victor Gill Ramirez
PM NEWS notes that the CCRT provides debt service relief to countries hit by catastrophic events including public health crises.
Managing Director, IMF, Kristalina Georgieva said she was very thankful to the EU and its member countries for the generous contributions to the CCRT
According to her, it is a critical step to helping the world’s most vulnerable countries provide healthcare and economic support for their people during the ongoing pandemic
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“Contributions like this will enable countries to free up resources to cope with COVID-19 and to increase health and social spending,” she said
She said that the EU and the IMF had a strong partnership on development financing
Georgieva, however, urged other member-countries to join the EU in contributing to the CCRT as contributions from them were instrumental in helping the fund support the most vulnerable countries
Other contributor countries to CCRT include the UK, Japan, Germany, Netherlands, Switzerland, Norway, China, Mexico, Sweden, Bulgaria, Luxembourg and Malta