The world’s seven largest industrial economies and central banks support a new International Monetary Fund program that seeks to quickly address a shortage of dollars in emerging markets.

Group of Seven Finance ministers and central bankers also called for “urgent contributions” to an IMF fund for catastrophes and poverty reduction, according to a statement released Tuesday by the U.S. Treasury Department. The department hosted a virtual meeting this week of the finance ministers and central bankers.

“The scale of this health crisis is generating unprecedented challenges for the global economy,” the group said in a two-page summary of the meeting.

The G7 said it’s prepared to provide “timebound suspension” on bilateral debt servicing claims for countries eligible for World Bank “concessional financing” on the condition that there’s agreement among all G-20 creditors and the Paris Club.