W/Bank President welcomes G7 communication

The World Bank President, Jim Yong Kim, has welcomed commitment expressed by G7 leaders on climate change, vowing to take aggressive actions to reduce greenhouse gas emission and lead the decarbonization of the global economy.

President Ellen Johnson Sirleaf returned to Liberia Tuesday, 9 June after attending the G7 Meeting in Munich, Germany.

Mr. Jim said the World Bank Group welcomes call by the world leaders for multilateral development banks to use to the fullest extent their balance sheets and capacity to leverage finance for climate action.

“We also welcome their call for the World Bank Group and partners to establish a platform for strategic dialogue on carbon markets and regulatory instruments”, he said.

According to him, the G7 leaders took an important step toward ensuring that the world is better prepared for the next pandemic.

Mr. Jim added that the pandemic emergency facility will promote better coordination and more efficient national and global preparedness towards creating a new market that would insure developing countries against pandemic risks, and trigger support to flow quickly to contain future outbreaks.

The G7 leaders noted that the delayed response to the Ebola crisis in West Africa should never happen again.

Meanwhile, with the support expressed by the G7, and working closely with public and private sector partners, the World Bank Group says this will accelerate efforts to launch pandemic emergency facility before the next deadly, and potentially much worse, outbreak occurs.

“We also welcome the G7 leaders’ support for the establishment of the Global Financing Facility in support of Every Woman, Every Child, which will promote smart, scaled and sustainable financing to help end preventable maternal and child deaths by 2030”, the World Bank Group President added.

The G7 is the world’s seven industrialized countries: United States, United Kingdom, France, Germany, Canada, Italy and Japan. Press Statement