dc.contributor.author	Malpass, David
dc.date.accessioned	2020-10-28T19:48:18Z
dc.date.available	2020-10-28T19:48:18Z
dc.date.issued	2020-10-16
dc.description.abstract	David Malpass, President of the World Bank Group, announced that the Board approved a fast track approach to emergency health support programs that now covers 111 countries. Most projects are well advanced, with average disbursement upward of 40 percent. The goal is to take broad, fast action early. The operational framework presented back in June has positioned the Bank to help countries address immediate health threats and social and economic impacts and maintain our focus on long-term development. The Bank is making good progress toward the 15-month target of 160 billion dollars in surge financing. Much of it is for the poorest countries and will take the form of grants or low-rate, long-maturity loans. IFC, through the Global Health Platform, will be providing financing to vaccine manufacturers to foster expanded production of COVID-19 vaccines in both part 1 and 2 countries, providing production is reserved for emerging markets. The Development Committee holds a unique place in the international architecture. It is the only global forum in which the Governments of developed countries and the Governments of developing countries, creditor countries and borrower countries, come together to discuss development and the ‘net transfer of resources to developing countries.’ The current International Financial Architecture system is skewed in favor of the rich and creditor countries. It is important that all voices are heard, so Malpass urged the Ministers of developing countries to use their voice and speak their minds today. Malpass urged consideration of how we can build a new approach to debt restructuring that allows for a fair relationship and balance between creditors and debtors. This will be critical in restoring growth in developing countries; and helping reverse the inequality.	en
dc.identifier	http://documents.worldbank.org/curated/en/182781603773468285/Remarks-by-World-Bank-Group-President-David-Malpass-to-the-Annual-Meetings-2020-Development-Committee
dc.identifier.doi	10.1596/34683
dc.identifier.uri	https://hdl.handle.net/10986/34683
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Delivered October 16, 2020;
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	DEBT RESTRUCTURING
dc.subject	DEBT RELIEF
dc.subject	DEBT SERVICE
dc.subject	DEBT SERVICE SUSPENSION INITIATIVE
dc.subject	EMERGENCY HEALTH AID
dc.subject	VACCINATION FINANCE
dc.title	Remarks to the Annual Meetings 2020 Development Committee	en
dc.type	Speech	en
dc.type	Discours	fr
dc.type	Discurso	es
dspace.entity.type	Publication
okr.crossref.title	Remarks to the Annual Meetings 2020 Development Committee
okr.date.disclosure	2020-10-27
okr.doctype	Publications & Research
okr.doctype	Publications & Research::President's Speech
okr.docurl	http://documents.worldbank.org/curated/en/182781603773468285/Remarks-by-World-Bank-Group-President-David-Malpass-to-the-Annual-Meetings-2020-Development-Committee
okr.guid	304011603774821308
okr.guid	791061603773715471
okr.guid	182781603773468285
okr.guid	512351603775169739
okr.guid	870331603773959533
okr.identifier.doi	10.1596/34683
okr.identifier.externaldocumentum	090224b087f17f01_2_0
okr.identifier.internaldocumentum	32517554
okr.identifier.report	153876
okr.imported	true	es
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/182781603773468285/pdf/Remarks-by-World-Bank-Group-President-David-Malpass-to-the-Annual-Meetings-2020-Development-Committee.pdf	es
okr.topic	Finance and Financial Sector Development::Concessional Finance and Global Partnerships
okr.topic	Finance and Financial Sector Development::Debt Relief and HIPC
okr.topic	Governance::International Governmental Organizations
okr.topic	Health, Nutrition and Population::Health Economics & Finance
okr.topic	Health, Nutrition and Population::Immunizations
okr.topic	Health, Nutrition and Population::Public Health Promotion
okr.unit	Office of the President (EXC)

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Remarks to the Annual Meetings 2020 Development Committee