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World Bank Annual Report 2023: A New Era in Development

(Washington, DC: World Bank, 2023-09-28) World Bank

This annual report, which covers the period from July 1, 2022, to June 30, 2023, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Ajay Banga, President of the World Bank Group and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
Tunisia Economic Monitor, Summer 2022: Navigating the Crisis during Uncertain Times

(Washington, DC, 2022-07) World Bank

The war in Ukraine and rising commodity prices have exacerbated the vulnerabilities of the Tunisian economy in the first months of 2022. The impact of the war began to be felt as the trade deficit widened by 56 percent in the first six months of 2022 reaching 8.1 percent of GDP. Lower oil and gas production and increased demand for energy and agricultural products have exacerbated the vulnerability of the trade balance to the vagaries of international markets. With a challenging global environment, the economic recovery appears weaker than previously forecast.
Remarks by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine

(World Bank, World Bank, 2022-04-21) Malpass, David

These remarks were delivered by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine on April 21, 2022. He said that he has been deeply horrified and shocked by Russia’s invasion of Ukraine, the atrocities committed against the civilian population, and the loss of life and livelihoods for millions of Ukrainians. He mentioned that since the invasion, the World Bank Group has provided fast-disbursing financial support to help the government provide critical services, pay wages for hospital workers, public servants, and the elderly. He insisted that It will be important for all partners to continue coordinating their support for Ukraine’s budget needs. He described that the World Bank Group is working toward three phases of the recovery effort of relief, recovery, and resilience. He said that as the war continues, the World Bank Group will work to build confidence in Ukraine’s financial, monetary, and fiscal institutions, fostering currency stability as they go forward. He mentioned that rebuilding will take hard work, determination, and struggle, but he remains optimistic. He concluded by saying that with our collective support, Ukraine can achieve a brighter future.
Unlocking Sustainable Private Sector Growth in the Middle East and North Africa: Evidence from the Enterprise Survey

(Luxembourg City: European Investment Bank; London: European Bank for Reconstruction and Development; Washington, DC: World Bank, 2022) World Bank ; European Bank for Reconstruction and Development ; European Investment Bank

Economic growth in the Middle East and North Africa (MENA) has been weak since the global financial crisis of 2007-09 and the Arab Spring of the early 2010s. Achieving higher and sustainable growth is particularly important in view of other economic challenges facing the region: public debt in MENA countries has increased considerably over the last decade, accompanied by declining investment. This report seeks to understand what lies beneath that relatively slow growth, with a particular focus on the reasons for stagnating productivity and inadequate accumulation of human capital and physical capital in the region’s private sector. To this end, the report summarizes the main findings from nine background papers based on enterprise survey data. It also draws conclusions for policy, not only for promoting stronger firm performance, but also for addressing the challenge of climate change by pursuing sustainable growth.
The World Bank Annual Report 2022: Helping Countries Adapt to a Changing World

(Washington, DC : World Bank, 2022) World Bank

The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submit the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
MIGA Annual Report 2021

(Washington, DC: Multilateral Investment Guarantee Agency, 2021-10-01) Multilateral Investment Guarantee Agency

In FY21, MIGA issued 5.2 billion US Dollars in new guarantees across 40 projects. These projects are expected to provide 784,000 people with new or improved electricity service, create over 14,000 jobs, generate over 362 million US Dollars in taxes for the host countries, and enable about 1.3 billion US Dollars in loans to businesses—critical as countries around the world work to keep their economies afloat. Of the 40 projects supported during FY21, 85 percent addressed at least one of the strategic priority areas, namely, IDA-eligible countries (lower-income), fragile and conflict affected situations (FCS), and climate finance. As of June 2021, MIGA has also issued 5.6 billion US Dollars of guarantees through our COVID-19 Response Program and anticipate an expansion to 10–12 billion US Dollars over the coming years, a testament to the countercyclical role that MIGA can play in mobilizing private investment in the face of the pandemic. A member of the World Bank Group, MIGA is committed to strong development impact and promoting projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, as well as offering credit enhancement on sovereign obligations.
Remarks at the World Health Organization Media Briefing on COVID-19 and Vaccine Equity

(World Bank, Washington, DC, 2021-06-01) Malpass, David

World Bank Group President David Malpass stated that the immediate priority is for countries that have sufficient supply to quickly release doses to countries that have vaccination deployment programs. He said that by the end of June, the World Bank will have approved vaccination operations in over 50 countries. It is vital to speed up the supply chain. The World Bank is providing transparent access to very detailed information about projects through an online portal available at https://www.worldbank.org/vaccines. He urged other development partners to publish detailed information about their vaccine financing and deployment programs and their delivery schedules. The World Bank is also working to expand supply and will be making announcements of investments by IFC, the World Bank Group’s private sector development arm.
Remarks at the Leaders’ Summit on Climate

(World Bank, Washington, DC, 2021-04-22) Malpass, David

David Malpass, President of the World Bank, discussed the core plan of the World Bank’s climate change action plan. The World Bank Group has reached its highest-ever levels of climate finance in the past two years. The Bank plan commits to big increases in spending, focused on results, plus active private sector mobilization through International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), the private sector focused entities. Also, the Bank is aligning the financing flows with the Paris Agreement. The Bank goal is to provide support, and take prompt action, in ways that create the most positive impact toward green, resilient, and inclusive development.
World Bank Group Press Conference at the 2021 Spring Meetings, April 7, 2021

(World Bank, Washington, DC, 2021-04-07) Malpass, David

David Malpass, President of the World Bank, discussed vaccines, climate, and debt. The World Bank commitments grew a record amount both in percent terms and dollar terms in 2020. The Bank is providing financing for several of the countries and they can be large-scale programs, but the countries are working to arrange delivery schedules from the various vaccine providers. That will be an important part of the recovery. The Bank completed a big vaccination operation through Board, which makes financing available to Bangladesh and also technical assistance from the World Bank, which is very helpful to the countries as they try to enter contract discussions, and also as they work within their health systems in order to vaccinate people. The Bank is working actively on biodiversity and agricultural challenges facing Brazil.
Remarks at the Climate Ambition Summit 2020

(World Bank, Washington, DC, 2020-12-12) Malpass, David

World Bank Group President David Malpass spoke about the Climate change, poverty, and inequality–defining issues of our age. The global poor often suffer the most from climate events, including flooding, droughts and food insecurity. The World Bank Group is the biggest multilateral funder of climate investments in developing countries. Over the next five years, the Bank intends to go further, targeting thirty-five percent climate co-benefits on average across the World Bank Group. For IBRD and IDA, fifty percent of this climate finance will support adaptation and resilience. The Bank will support the Paris accord alignment by helping developing countries to achieve their NDCs, end their reliance on coal, and transition to lower-carbon, climate-resilient economies. He discussed the Coronavirus (COVID-19) response, targeting investment and policy financing that will help support a green, inclusive and resilient recovery. We cannot succeed in helping countries reduce poverty without rising to the challenges of climate change.