Title: Supporting the World Bank Group to lead a worldwide COVID-19 economic recovery effort.
Policy area: International Affairs

Summary:
This resolution expresses the sense of the House of Representatives that the United States (1) should support the World Bank Group to lead a global effort assisting areas that are economically impacted by the effects of COVID-19 (i.e., coronavirus disease 2019), and (2) recognizes the need for global cooperation to overcome shared challenges.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 939 Introduced in House (IH)]

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116th CONGRESS
  2d Session
H. RES. 939

 Supporting the World Bank Group to lead a worldwide COVID-19 economic 
                            recovery effort.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 23, 2020

     Mr. Brendan F. Boyle of Pennsylvania submitted the following 
 resolution; which was referred to the Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
 Supporting the World Bank Group to lead a worldwide COVID-19 economic 
                            recovery effort.

Whereas the worldwide COVID-19 pandemic is having a profound and serious impact 
        on the global economy;
Whereas the world is highly interconnected, and working together can defeat the 
        spread of COVID-19;
Whereas the poorest and most vulnerable countries could be hit the hardest by 
        the COVID-19 pandemic by overwhelming their health care system and 
        upending development projects;
Whereas many of the world's low- and middle-income countries are still in the 
        early stages of the COVID-19 pandemic, but the effects of the pandemic 
        are already being felt, as health systems are strained, and many aspects 
        of society are injured;
Whereas it is in the international security and prosperity interest of the 
        United States to bolster economic and political stability in developing 
        countries;
Whereas, since its creation in 1944, the World Bank Group has been dedicated to 
        providing financial assistance to developing countries to promote 
        economic development;
Whereas the World Bank Group finances critical development projects that would 
        otherwise go unfunded by private investors, is uniquely positioned to 
        address cross-border development challenges, and can effectively 
        allocate aid globally based on need;
Whereas high-income countries will be able to recover from the COVID-19 pandemic 
        on their own, but low- and middle-income countries will struggle and 
        need economic and technical assistance the World Bank Group can provide; 
        and
Whereas, in April, the World Bank Group announced efforts to respond to the 
        COVID-19 pandemic in order to strengthen developing country responses 
        and shorten the time to economically and socially recover: Now, 
        therefore, be it
    Resolved, That it is the sense of the House of Representatives 
that--
            (1) the United States should support the World Bank Group 
        to lead a worldwide effort to economically construct those 
        areas around the world that have been and will be economically 
        devastated by the effects of the COVID-19 pandemic; and
            (2) the United States recognizes the world needs to work 
        together more collaboratively in order to overcome our shared 
        challenges.
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