Department of Finance Canada commits 12 million for a new World Bank Forum for Crisis Resilience and 2 million for debt transparency work

Department of Finance Canada published a readout of Finance Minister François-Philippe Champagne’s Washington, D.C. engagements with G7 and G20 finance ministers and central bank governors and the International Monetary Fund and World Bank Annual Meetings, centred on coordination to support Ukraine, address global growth challenges and tackle financial crime and fraud. The minister also announced Canadian contributions of 12 million to the World Bank Group to establish a new Forum for Crisis Resilience and 2 million to the World Bank’s Debt Management Facility to enhance debt transparency. Champagne co-chaired the G7 Finance Ministers and Central Bank Governors meeting with Bank of Canada Governor Tiff Macklem and, at Canada’s request, invited Ukraine’s Prime Minister Yuliia Svyrydenko to brief participants on Ukraine’s situation and financing needs; discussions also covered global imbalances, critical minerals and promoting inter-G7 trade. The trip also included a ministerial roundtable on support for Ukraine and economic recovery, an outreach event with developing and emerging economies focused on debt sustainability and crisis resilience, bilateral meetings with counterparts from Singapore, South Korea, the United Kingdom and the United States, and a G7 leadership dialogue on fraud, financial crime and artificial intelligence with participation from partners and the Financial Action Task Force.