10. Speeches of World Bank Presidents [collection under construction]

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Remarks by World Bank Group President David Malpass at the Launch of IDA20 in Tokyo, Japan

(World Bank, Washington, DC, 2022-09-13) Malpass, David

This report discusses the remarks delivered by World Bank Group President David Malpass at the Launch of IDA20 in Tokyo, Japan. Global growth is expected to slow sharply from 5.7 percent in 2021 to 2.9 percent in 2022, with further slowing likely as more countries fall into recession. In developing economies, COVID-19 has already had a devastating impact on income growth and poverty reduction. The war in Ukraine is dealing yet another blow to their growth prospects. Developing countries are now expected to grow by a mere 3.4 percent in 2022, well below the average from 2011 to 2019. Each step in the progression of crises in recent years is leaving poorer countries further behind, adding to inequality. My deep concern is that these trends will persist. The World Bank Group is making around 170 billion dollars in financing available for new and existing projects over the 15 months starting April 2022 to support this crisis response package. This will be complemented by analytical and advisory work to strengthen evidence-based development policies and programs.
Introductory Remarks by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution

(World Bank, Washington, DC, 2022-07-13) Malpass, David

These opening remarks were made by World Bank Group President David Malpass at the State of the Global Economy Event Organized by Brookings Institution on July 13, 2022. Mr. Malpass said the world is facing multiple crises, including the sharpest slowdown in GDP growth in 80 years, the risk of a frozen crisis in Ukraine due to Russia's invasion, and a massive worsening in global inequality as advanced economies absorb the limited supplies of global capital and energy. Global growth is not expected to rebound in 2023, given energy supply constraints; the long overdue normalization of interest rates and bond yields in the advanced economies; and the misallocation of investments that has pushed much of the world’s savings into bonds, mostly bonds issued by governments and overcapitalized borrowers. The global economy is also facing significant downside risks. These include intensifying geopolitical tensions, the fragility in many countries, the potential for an extended period of stagflation, the widespread financial stress that's caused by the higher borrowing costs, and food insecurity.
Keynote Remarks by World Bank Group President David Malpass to the European Union-African Union Summit on Peace, Security and Governance

(World Bank, Washington, DC, 2022-02-17) Malpass, David

These keynote remarks were delivered by World Bank Group President David Malpass to the European Union-African Union Summit on Peace, Security and Governance on February 17, 2022. He spoke about the global misallocation of capital leaves developing countries with inadequate capital flows and unable to sufficiently respond to the multitude of challenges they face. He mentioned that the World Bank Group has significantly increased their support for fragile states over the last five years, providing 15.8 billion in FY21 for over thirty fragile and conflict-affected countries, many of them in Africa. He was gravely concerned by the rapid escalation in conflicts in countries such as Burkina Faso and Ethiopia. He said that without good governance, Africa will continue to face underinvestment, insufficient access to electricity and clean water, and regulatory barriers. He highlighted on their operations working toward better outcomes in terms of reduced poverty and higher incomes which means governance that promotes trade facilitation, builds accountability mechanisms, enhances systems for service delivery, and fosters citizen engagement. He declared that the Recovery and Peacebuilding Assessment between the EU, UN, and the World Bank helps governments identify their priority needs for recovery, reconstruction, and peacebuilding. He also works with the UN Peacekeeping Missions in Democratic Republic of Congo, Mali, and the Central African Republic, where they have been able to provide rapid support once insecure areas are stabilized. He concluded with noting that by 2030, two-thirds of the world’s extremely poor people could be living in fragile countries, and together with their development partners, they must continue to ramp up our efforts to support the world’s poorest and most fragile states in becoming more resilient, peaceful, just, and economically robust.
Remarks at Media Roundtable during Annual Meetings 2021

(World Bank, Washington, DC, 2021-10-11) Malpass, David

World Bank Group President David Malpass discussed a broad range of development issues, including the economic outlook, growth, vaccines, debt, climate, and trade. World Bank financing operations will be addressed at the annual meeting as well as our climate change action plan, which aims to help reduce greenhouse gas (GHG) emissions and improve adaptation. We expect global growth of 5.7 percent in 2021 and 4.4 percent in 2022, these are very similar to our projections in the June Global Economic Prospects report. Incoming high-frequency data point to slowing momentum in global activity amid persistent supply chain bottlenecks and COVID-19 surges. Moreover, the global recovery remains dramatically uneven. The outlook is challenging for much of the developing world with lagging vaccination rates, rising inflation, limited policy support, too few jobs, and shortages that extend to food, water, and electricity. As of mid-2021, over half of IDA countries, those are the world’s poorest countries, are in external debt distress or at high risk of it. A comprehensive approach, including debt reduction, swifter restructuring and more transparency is needed to help countries assess and manage their external debt risks and work toward sustainable debt levels and terms. These are fundamental to supporting health systems, education, and infrastructure and creating growth, investment, and prosperity. Enhanced and accelerated implementation of the Common Framework will be critical in achieving this much-needed debt transparency and sustainability.
Remarks at the Western and Central Africa Regional Media Roundtable

(World Bank, Washington, DC, 2021-05-20) Malpass, David

World Bank Group President David Malpass spoke about the Coronavirus (COVID-19) pandemic that has taken a toll on African lives, economies, and livelihoods. The World Bank intends to invest and mobilize about $150 billion over the next five years in Africa to support the continent’s recovery from the pandemic and its long-term development. He urged countries that expect to have excess vaccine supplies to release their excess as soon as possible to developing countries that have delivery programs in place. He emphasized the need for greater transparency in contracts between governments, pharmaceutical companies, and organizations that are involved in vaccine production and delivery so that financing can be directed effectively, and countries can plan for receipt and deployment. The World Bank yesterday launched a comprehensive online portal that provides easy access to information about their projects, including individual country-financing operations. He spoke about comprehensive debt solutions which will involve at least four elements: debt suspension, debt reduction, debt resolution, and debt transparency. He stated that without private creditors fully onboard, the Common Framework will not deliver a sustainable solution for Chad, Ethiopia, or Zambia. As countries work to recover, tackling climate change will be key for the region. The Bank is also working to address fragility, conflict, and violence. He concluded that while we know that the road to recovery will be long, countries in the region have applied lessons from previous crisis such as the West Africa Ebola outbreak in 2014, and many countries have strengthened their social safety nets to help protect the poor that have been most affected by the crisis, and to move faster on key reforms and investments that will be crucial for long-term development.
Remarks to the Spring Meetings 2021 Development Committee

(Washington, DC: World Bank, 2021-04-09) Malpass, David

World Bank Group President David Malpass spoke about how the Development Committee plays an essential and unique role in the international cooperation architecture. He highlighted the actions taken by World Bank to respond quickly to the Coronavirus (COVID-19) pandemic, which includes new COVID-related emergency health programs in 112 countries, vaccination operations that are expected to reach four billion dollars in commitments available in fifty countries by mid-year, and a quick doubling of trade and working capital finance to help fill the banking vacuum that hit private sectors. He urged all to consider how we can restore growth in developing countries and help reverse the growing inequality, in terms of access to vaccinations, unsustainable debt, and adverse climate impacts. He was very pleased with the G20’s endorsement of advancing the IDA replenishment cycle to 2021. He mentioned that the main elements of the World Bank Group’s Climate Change Action Plan were presented last week. He discussed the three topics of Debt, Coronavirus (COVID-19) Vaccines, and Green Resilient and Inclusive Development which are critical to a sustainable recovery. He concluded we can generate a recovery that ensures a broad and lasting rise in prosperity, especially for the poorest and most vulnerable.
Economic Recovery: Conversation with David Malpass, Kristalina Georgieva, and Janet Yellen

(World Bank, Washington, DC, 2021-04-06) Malpass, David ; Georgieva, Kristalina ; Yellen, Janet

World Bank Group President David Malpass spoke about the world facing major challenges, including COVID, climate change, rising poverty and inequality and growing fragility and violence in many countries. He highlighted vaccines, working closely with Gavi, WHO, and UNICEF, the World Bank has conducted over one hundred capacity assessments, many even more before vaccines were available. The World Bank Group worked to achieve a debt service suspension initiative and increased transparency in debt contracts at developing countries. The World Bank Group is finalizing a new climate change action plan, which includes a big step up in financing, building on their record climate financing over the past two years. He noted big challenges to bring all together to achieve GRID: green, resilient, and inclusive development. Janet Yellen, U.S. Secretary of the Treasury, mentioned focusing on vulnerable people during the pandemic. Kristalina Georgieva, Managing Director of the International Monetary Fund, focused on giving everyone a fair shot during a sustainable recovery. All three commented on the importance of tackling climate change.
Building a Green, Resilient, and Inclusive Recovery

(Washington, DC: World Bank, 2021-03-29) Malpass, David

World Bank Group President David Malpass acknowledged the importance of the United Kingdom within the World Bank Group. He spoke about the Coronavirus (COVID-19) which descended on the poor like wildfire. He highlighted the Bank's approach to the interlinked crises of green, resilient, inclusive development (GRID). The World Bank is working to help countries build “Country Platforms” to engage with wider groups of development actors as they develop the programs with Bank support. He focused on three of the most pressing challenges of climate, debt, and inequality. There is a need for integrated, long-run strategies that emphasize green, resilient, and inclusive development. He concluded we can generate a recovery that ensures a broad and lasting rise in prosperity especially for the poorest and most marginalized.
Remarks at Session 1 of the G20 Finance Ministers and Central Bank Governors Meeting, February 26, 2021

(World Bank, Washington, DC, 2021-02-26) Malpass, David

David Malpass, President of the World Bank, declared that inequality, poverty, and climate change will be the defining issues of our age. The goal is to achieve fair, broad, and fast access to effective and safe vaccines for developing countries. On climate, the Bank is looking forward to supporting the G20 on the very active climate agenda, including at the Venice climate summit in July. Debt transparency and sustainability remain major challenges for vulnerable countries. Each of these priorities - vaccines, climate, and debt - is plagued with inequality, which is causing a reversal of progress on development.
Reversing the Inequality Pandemic

(World Bank, Washington, DC, 2020-10-05) Malpass, David

World Bank Group President David Malpass spoke about the Coronavirus (COVID-19) pandemic that has already changed our world decisively and forced upon the world a painful transformation. He explained the World Bank Group’s approach that has been comprehensive by focusing on saving lives, protecting the poor and vulnerable, ensuring sustainable business growth, and rebuilding in better ways. He focused on four urgent aspects of this work: (i) first, the need to redouble efforts to alleviate poverty and inequality; (ii) second, the associated loss of human capital and what must be done to restore it; (iii) third, the urgent need to help the poorest countries make their government debt more transparent and permanently reduce their debt burdens, two necessary steps to attract effective investment; and (iv) finally, how we can cooperate to facilitate the changes needed for an inclusive and resilient recovery.