World Bank set to pause loan repayments by disaster-hit nations - FT

World Bank President Ajay Banga will unveil measures, including the pause on repayments and embedding catastrophe insurance into new loans in a speech in Paris on Thursday, the newspaper reported.

The lender will also allow countries to "quickly redirect" a portion of their funds to responding to an emergency when a crisis occurs, the FT said. French President Emmanuel Macron is hosting a summit on Thursday and Friday in Paris to pin down a roadmap for easing the debt burdens of low-income countries while freeing up more funds for climate financing.

Nearly 40 heads of state and government are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, Reuters reported this week, citing a draft summit statement.Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Christopher Cushing and Jamie Freed

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