The World Bank Group in Washington, DC has welcomed the commitment that the Group of Seven Countries, G7 has made during its last Summit which was held in Germany.

This reaction was contained in the press release made available to our correspondent in New York on Thursday by the office of the president of the World Bank, Dr. Jim Yong Kim.

According to the statement, Dr. Kim said the global bank was glad to see that food security and nutrition remain a major priority at the G7, stressing that both food security and nutrition are essential to everything from early childhood development to lifting people out of poverty. 

The World Bank president also added in the statement that food security and nutrition are issues that continue to be very high on the agenda of the global bank.

Dr. Kim also welcomed G7’s call for multilateral development banks like the World Bank to use to the fullest extent their balance sheets and capacity to leverage finance for climate action. He also welcomed their call for the World Bank Group and partners to establish a platform for strategic dialogue on carbon markets and regulatory instruments.

“By supporting the creation of a pandemic emergency facility, G7 leaders took an important step toward ensuring that the world is better prepared for the next pandemic” the statement reads in part, adding that the pandemic emergency facility would promote better coordinated and more efficient national and global preparedness efforts, help create a new market for insuring developing countries against pandemic risks, and trigger support to flow quickly to contain future outbreaks.

According to Kim, the delayed response to the Ebola crisis in West Africa must never happen again. He stressed that with the support expressed at the meeting by the G7, the World Bank would increase efforts to launch the pandemic emergency facility before the next deadly, and potentially much worse, outbreak occurs.