by Andrea Shalal, David Lawder
Reuters.com
In a statement to the two institutions’ steering committees, Mnuchin said they needed to continue to provide financing, advice and capacity development to aid countries hurt by the COVID-19 pandemic. But as they disburse billions of dollars in emergency funds, they need to plan for transitions to normal financing arrangements, he added.
“It is critical that the World Bank manage financial resources judiciously and transparently, with clear justifications for allocations to countries with robust access to other financing sources, so as not to burden shareholders with premature calls for new financing,” Mnuchin said.