The Role of the World Bank Group in Supporting Sources of Financing Economic Development During International Economic Crises: the COVID-19 Crisis as a Model

Abstract

This study aims to illustrate the impact of the COVID-19 crisis on various sources of financing economic development in the world. Focus is put on highlighting the role of the World Bank Group in supporting those sources during this crisis to avoid the collapse of development financing, especially in poor countries and fragile economies. A descriptive and analytical approach has been followed by looking at as many international reports, statistics and data as possible, related to the various economic indicators that express the variables of the study. The study's findings indicate that the COVID-19 economic crisis has caused a sharp deterioration in various sources of financing for international economic development. The World Bank Group has played a crucial role in addressing this crisis and mitigating it on the global economy through its circumstantial measures, financing payments, and supportive and corrective policies.