The World Bank Group has announced a new and expanded toolkit for crisis preparedness, response, and recovery that includes pausing debt repayments.

The tools introduced also include redirecting financing, linking crisis preparedness and financing, backstopping development projects with private sector support, and building enhanced catastrophe insurance without debt.

The offer of a pause in debt repayments has been introduced so that countries can focus on meeting the urgent needs of their people instead of on loan repayments, and the World Bank Group will launch Climate Resilient Debt Clauses to provide a pause in debt repayments for the most vulnerable countries in times of crisis or catastrophe.

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