Sponsors: Hellenic Republic, Malawi, Kingdom of Denmark, Panama, Austria, Syrian Arab Republic, Venezuela, the

Netherlands, Thailand, Indonesia, Belgium, Argentina, Switzerland, Kingdom of Morocco, French Republic

Signatories: Palestine, Ukraine, Malaysia, Ghana, Somalia, Qatar, Iceland ,UAE, China, Croatia, Jordan, Bangladesh

1. Recommends, the IBRD to pursue a Preponement Vaccine Purchasing Program (PVPC) wherein the IBRD

finance the vaccine development programs of specific private pharmaceutical companies with collaboration

from the World Health Organization wherein:

a. An agreement is signed that necessitates the private pharmaceutical company to deliver a

predetermined number of vaccine doses to the World Health Organization upon ensuring that the

vaccine has passed clinical trials as determined by the World Health Organization

b. The World Bank works with the World Health Organization to determine the distribution of these

vaccines contingent to a steering body that consists of officials from the World Health Organization

and the World Bank;

2. Requests, the IBRD and the IDA to maintain a continuous line of communication wherein a specific

employee from the World Bank is established as a single point of contact regarding the COVID-19 pandemic

and can directly contribute towards the governor regarding existing programs from the World Bank that it

determines could help the member state.

3. Strongly advises the International finance corporation to support workers in the private sector during crises,

through the required and systematic accumulation of funds during periods of employment, to provide benefits

to the unemployed during periods of unemployment, and by encouragement of desirable stable employment.

a. The enactment of this article to provide for payment of benefits to persons unemployed through no

fault of their own, to encourage stabilisation in employment, to provide for integrated employment

and training services in support of state economic development programs, and to provide maximum

job training and employment opportunities for the unemployed, underemployed, the economically

disadvantaged, dislocated workers, and others with substantial barriers to employment, is, therefore,

essential to public welfare

b. To further this policy, the World Bank will maintain close coordination among all agencies whose

mission affects the employment or employability of the unemployed and underemployed.

4. Strongly advises the world bank to promote and facilitate recovery with special emphasis on humanitarian

aid, developing countries, and vulnerable populations to minimise disruption of the sustainable development

goals and therefore,

 a. Strongly recommends the world bank monitor and assess the situation in depth and provide reports

to all member nations to make well-informed decisions;

b. Suggests fiscal stimulus in the form of tax raise and interest rate cuts to balance the velocity of

money during the crisis while also promoting a productive use for them in the form of start-ups, to

all the nations that can afford it;

c. Recommends, the IFC to provide subsidised loans to private sectors related to health and technology

to promote development during the crisis

5. Encourages, the IDA and IBRD to cooperate with their respective member states in the provision of logistical

support with subject experts regarding the use of novel technologies such as artificial intelligence and

predictive modelling to better support a member states’ testing procedures.

6. Suggests, the allocation of funds in a specific manner that are not limited to but include:

a. funds to the countries affected the most by providing resources such as medical supplies, personal

protective equipment (PPE) and strengthening healthcare infrastructure.

b. conducting a thorough needs assessment to identify the most pressing challenges faced by member

countries. This will include an analysis of the health systems capacity, the impact of the pandemic

economically, and vulnerability of different populations. Based on the assessment priorities can be

established to make sure the most effective way of utilising the funds.

c. addressing economic fallout, caused by the pandemic. This includes direct financial aid and assistance

to vulnerable populations especially informal workers and extremely low income families who have

been affected. Furthermore, funds can be used to provide support to small and medium sized

enterprises to prevent job losses and stimulate economic recovery.

d. debt-relief measures to low income and middle income countries for much needed fiscal space to

address the severe health and economic challenges. This relief can include debt restructuring

agreements to alleviate immediate financial crises.

e. building resilience to better prepare member countries to prepare in a better manner for future

pandemics or health emergencies. This shall involve investing in research and development,

healthcare infrastructure strengthening, and disaster preparedness measures.

7. Endorses, Youth Business International’s (YBI) emergency response program to support micro, small and

medium businesses in 32 countries across Europe, Middle East, Africa, and Asia-Pacific through the

COVID-19 crisis. The key components of this program are the Design and implementation of country-level

response services, and regional collaboration and cooperation. The reason for the interest and support for this
 program is the fact that it provides streamlined help for small businesses and regions that are often

overlooked by large bodies like the UN.

a. Design and implementation of country-level services: business owners will be provided with a holistic

package of emergency support, including crisis helplines, targeted advice and signposting, and online

training through webinars and mentoring;

b. regional collaboration and cooperation: active regional communities of practice will be developed to

enable enterprise support organisations to connect, learn, innovate and share best practices on how to

support micro, small and medium businesses before, during and after the peak of the COVID-19 crisis

8. Encourages, the implementation of scheme Interest Fluctuation Program (IFP) for financing methods within

the lending schemes of the World Bank Group with consideration for the current number of cases within

COVID-19 upon ensuring that the amount being lended is used exclusively for the purpose of addressing the

COVID-19 situation within their country.

9. Recommends, nations to consider fiscal consolidation when conditions are favourable, along with policies

that include structural reforms aimed at promoting growth. Having strong institutional frameworks can

prevent "below the line" operations that undermine debt reduction efforts and ensure that countries indeed

build buffers and reduce debt during good times.

10. Requests, the member states to consider financial regulation measures and supervision to ensure that

financial institutions operate with transparency and accountability

11. Suggesting, that member states maintain a higher minimum reserve requirement to sustain resources in case

of future crises;

12. Reccomends, the World Bank to cooperate with the World Health Organization in the forming of its

economic policy considering that transmission mechanisms of the economic contagion are based upon ever

updating health situations and in critiquing how assessments of the economic impacts are made enabling a

more informed evaluation of the assessments, as the numbers keep changing, and a better understanding of

the underlying processes to gauge the impacts of an uncertain and evolving shock.

13. Further requests, nations to set up a technology modernisation fund to help SME companies in the transition

to the digital age.

a. This include companies from the most affected industries (including but not limiting to agriculture,

software, agriculture, etc)

 b. Companies should be surveyed and evaluated by a board of three professionals including a business

advisor, auditor and government business sector representative.

14. Recommends, nations and the world bank to considerer the development of health infrastructure to be of

utmost priority considering its importance in combating future epidemics and raising standard of living

which is in line with the mandate of the World Bank

15. Recommends the World Bank to consider establishing a function of helping nations mitigate effects to

recover from pandemics potentially through reconsidering the criteria upon which the Pandemic

Emergency Financing Facility is based upon.

16. Recommends, the reconsideration of the articles of agreement of the IBRD regarding the structure for the

provision loans to be relaxed and fastened in the case of a health emergency.