#WorldBank Group entities issue financial statements for #FY20

World Bank Group commitments to help countries achieve better development outcomes and address the health and economic impacts of the coronavirus disease (COVID-19) rose to $73.4 billion in fiscal year 2020, 23 percent higher than the prior year and the highest level in a decade. The financial statements from the fiscal year highlighted the strength of the financial position of the World Bank Group, strong demand for financing including due to COVID-19, and the continued backing from shareholders and capital markets.
In response to the global outbreak of COVID-19, the World Bank Group worked to respond quickly and intends to deploy up to $160 billion in the 15 months ending June 30, 2021. The WBG provided a total of approximately $21 billion in COVID-19 related support in FY20.“As developing countries face an unprecedented health, social and economic crisis that is jeopardizing decades of development progress and pushing millions into poverty, the mission of the World Bank Group is as urgent as ever. The four sets of FY20 financial statements issued today show that the World Bank Group has the tools and financial strength to help support countries in their efforts to reinforce healthcare systems, protect the poorest households, maintain the foundations of the economy, fight inequality and build a resilient and sustainable recovery,” said World Bank Group President David Malpass.