Senegal’s President Macky Sall has called on the World Bank to support African and other developing countries through the special drawing rights system.
He made the request while meeting with World Bank president David Malpass on the second day of the World Water Forum.
The officials discussed challenges and solutions to address water crisis but economic recovery and special schemes for developing countries were per the agenda.
Macky Sall said he suggested that the World Bank looks into the possibility of implementing the Bank’s crisis and emergency response policies in order to support countries facing severe economic crisis, natural disasters and food insecurity.
Unfortunately, Africa faces a three-dimensional crisis, the situation could not be more serious, so it was essential that this mechanism be implemented.
As the leaders touched on the consequences of the Russia-Ukraine conflict on the global economy, Sall reiterated his request that Africa be granted funds through the special drawing rights system.
The SDR system is an international reserve asset, created by the IMF to supplement its member countries’ official reserves.
The international community had agreed to provide Africa with a 33 billion $ out of a 650 billion $ post-covid scheme but the A.U. deemed the amount insufficient.
World water Day was celebrated during the 9th World Water forum, the first taking place in a Sub-Saharan African country. Actors raised awareness among the public on the billions of people still living without access to safe water.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
