G20 Exploring Structural Approaches To Boost Funding For Developing Countries

WASHINGTON: The Group of 20 major economies on Friday said they are looking at structural approaches to secure longer-term financing for developing countries, including development of domestic capital markets and work to catalyze private sector investment.

In a statement, the Saudi G20 secretariat said 46 countries had applied for relief under the Debt Service Suspension Initiative (DSSI) approved by G20 members in April that offers a freeze in official bilateral debt payments to free up funds for countries to spend on fighting the pandemic.