World Bank promises 'concessionality' in debt restructuring

The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India and other creditor nations on Saturday.

"The World Bank is committed to providing net positive flows in a way that maximizes concessionality in the restructuring process," David Malpass said in his remarks at the Global Sovereign Debt Roundtable in India's Bengaluru. "We will provide as much concessionality to the debt treatment as possible."