The Treaties Committee will be holding a public hearing on Friday to review two treaty actions relating to capital increases for two World Bank entities, the International Bank for Reconstruction and Development and the International Finance Corporation.

Media release issue date: Friday, 22 May 2020

The Treaties Committee will be holding a public hearing on Friday to review two treaty actions relating to capital increases for two World Bank entities, the International Bank for Reconstruction and Development and the International Finance Corporation. These actions will enable Australia to purchase additional capital in both entities, which are in the process of raising capital in part to implement an emergency response package to the global health and economic impacts of COVID-19. The Committee will hear from witnesses from the Department of the Treasury, commencing shortly after 11am. The hearing will be broadcast at aph.gov.au/live. Media inquiries Ms Natalie Hissey, Office of Mr Dave Sharma MP 02 9327 3988 For background information Committee Secretariat 02 6277 4002 jsct@aph.gov.au