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4h ago

Gaza Reconstruction Moves to Fore at IMF–World Bank Meetings as Germany Vows to Engage

Berlin highlights the World Bank’s outsized leverage to deepen ties with the Global South.

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Der Internationale Währungsfonds (IWF) stellt am Dienstag in Washington (9.00 Uhr Ortszeit, 15.00 Uhr MESZ) seinen Bericht zu den Perspektiven der Weltwirtschaft in diesem und im kommenden Jahr vor.

Overview

  • Delegates gathered in Washington on October 14 for the IMF and World Bank annual meetings with Gaza recovery newly elevated on the agenda.
  • Finance Minister Lars Klingbeil said Germany will work with partners to speed comprehensive humanitarian access to Gaza and enable the start of rebuilding.
  • Berlin has not set funding levels for Gaza, reflecting fiscal pressures and ongoing commitments to Ukraine that the government says are not up for negotiation.
  • The World Bank’s role was underscored by Development Minister Reem Alabali Radovan, who cited the institution’s ability to multiply core contributions by up to a factor of 50.
  • Discussions in Washington are expected to include potential use of frozen Russian assets for Ukraine’s reconstruction, which the World Bank estimates will exceed €500 billion, alongside calls for open trade and expanded international cooperation.