World Bank thanks Canada for its strong support in responding to the global economic recession

Prime Minister Stephen Harper today met with World Bank President Robert B. Zoellick. President Zoellick has praised Canada as a country that “offers lessons to others” about how to deal with the global recession. The Prime Minister used his meeting with President Zoellick to share further details about the recovery initiatives contained within Canada’s Economic Action Plan.

“Canada’s Economic Action Plan is already making a difference,” said the Prime Minister. “We are expanding access to financing, helping to protect and create jobs, and making smart long-term investments so Canada will emerge from the global recession stronger than ever. We are doing all of this while maintaining the smallest deficit compared to GDP of any country in the G7.”

President Zoellick thanked Canada for its ongoing partnerships in several countries, including Afghanistan and Haiti. He also thanked Canada for its commitment in 2007 to increase its annual contributions to the International Development Association, which provides interest-free loans and grants to the poorest countries. He further acknowledged Canada’s contribution to the Global Trade Liquidity Program, which supports trade finance in developing countries. Minister of Finance Jim Flaherty and President Zoellick signed an agreement today authorizing Canada’s contribution to this program.

“Canada is already making a difference on the world stage. We helped lead the G20 effort to reform financial regulations. We are steadfast in our opposition to protectionism and in our defence of open and strengthened trade,” said the Prime Minister. “Canada’s allies and trading partners can depend on us to follow through on our commitments. Our government is focused on delivering real results.”