Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance said yesterday (17th) at a video conference of the World Bank Development Committee in the afternoon of the afternoon that "Korea will hold off debt repayment to IDA countries and LDCs by the end of this year." .

This means that Korea will accept and implement the proposal to repay the world's poorest countries.

"I support the proposals of the World Bank and the International Monetary Fund (IMF), which emphasized the need for debt relief in weak countries," he said. "It is necessary to improve the economic constitution, such as restructuring debt in development and fostering future growth industries."

With Corona 19 spreading around the world, developing countries emphasized that the so-called '3R' is important, in addition to improving the economic structure, strengthening responsiveness and enhancing resilience.

First of all, it was considered that it is necessary to supply medical devices and drugs to respond to Corona 19 in developing countries and to share experiences and knowledge about Corona 19.

Deputy Prime Minister Hong explained this and cited Korea's defense and policy experience sharing and response model for using information and communication technology (ICT).

He also said, "We need to increase the resilience of developing countries through development cooperation." It is also necessary to newly apply movement restrictions to physical and human support that are essential for smooth implementation of development cooperation projects. "

The World Bank Development Committee opened a video in light of the crisis of Corona19 spread.

The committee discussed the issue of supporting $ 14 billion in emergency funding for Corona19 to respond to the crisis in developing countries and delaying repayment of debt to vulnerable countries in public quantum creditors.

(Photo = Yonhap News)