France calls on World Bank to aid vulnerable states

France calls on World Bank to aid vulnerable states

Paris, Aug 30 (IANS) French President Francois Hollande called on the World Bank to further bolster financial aid to the world’s poorest countries and most vulnerable states, notably in the Sahel and the Middle East.

At a meeting with World Bank President Jim Yong Kim on Monday, Hollande hailed the institution’s efforts in helping to handle the refugee crisis but asked it “to intensify efforts in fragile and vulnerable countries, particularly in the Sahel, so that development projects can be implemented quickly.”

In this context, Hollande urged a quicker launch of a World Bank facility in the North Africa and Middle East region, to which France will provide $800 million in guarantees to help financing reconstruction and recovery, Xinhua news agency quoted his office as saying.

Hollande and Kim Yong, also expressed common commitment to encourage the use of renewable energy in Africa, a region severely hit by climate degradation.

In addition, they reiterated the need for world leaders to honour their pledge to offer $100 billion to the poorest states to help fight climate change.

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