By: Dion Hall
April 5th, 2025
ECOFIN:
With many things going on inside of ECOFIN, their second session poses the following question: How will funds/aid get to these developing nations? Delegates from all over the world and in different blocs have come up with a few different solutions.
Naming themselves the “cheese bloc” containing India and the United Kingdom, have proposed a program to determine requirements to apply and receive funds. The program is called the Debt Relief program. To meet requirements a country must meet many requirements, the most notable is that their debt must be above 50% of their GDP.
The Debt Relief plan is a step by step plan once the applied country has been accepted. These steps include wiping their debt by giving them a loan, and beginning to build infrastructure and provide assistance in areas like education. The plan intends to bring rapid growth and relief to desperate countries.
The plan is ambitus because of the high standards. The Financial Time after receiving a summary of the plan believes that the plan could be successful in driving investment into these developing nations and should be highly considered for the resolution.