Publication: Remarks by World Bank Group President David Malpass at the G20 Leaders’ Summit in Bali Indonesia
Loading...
Date
2022-11-15
ISSN
Published
2022-11-15
Author(s)
Editor(s)
Abstract
These remarks were delivered by World Bank Group President David Malpass at the G20 Leaders’ Summit in Bali Indonesia on November 15, 2022. He spoke about the developing world faces hunger, poverty, unsustainable debt, and learning poverty above 70 percent. Climate change makes all of these burdens worse. Farmers face droughts and floods. In poor countries, they face severe shortages of fertilizer and diesel. Underinvestment blocks access to electricity and clean water. Current global macro policies create a permanent drain on global capital, risking a long recession. The developing world needs much greater resources. The World Bank Group has achieved the largest increase in commitments in our history and greatly expanded trade finance. Regarding the debt crisis, it is urgent to create a more effective debt reduction process for low and middle-income countries that are in debt distress.
Link to Data Set
Citation
“Malpass, David. 2022. Remarks by World Bank Group President David Malpass at the G20 Leaders’ Summit in Bali Indonesia. © World Bank. http://hdl.handle.net/10986/38519 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication Remarks from World Bank Group President David Malpass at the G20 Leaders Summit(World Bank, Washington, DC, 2019-06-29)These remarks were delivered by David Malpass, President of the World Bank Group, at the G20 Leaders Summit held in Osaka, Japan. He spoke about how giving women better access to economic opportunities is critical to eliminate differences in living standards between men and women. He highlighted We-Fi which is so important and how the Bank was proud to celebrate its two-year anniversary in Osaka. He spoke about the developing countries and the Bank's role in actively identifying changes in the private sector environment that will attract investment and enable higher living standards and better lives. He explained the Bank's work in fragile states, such as the Sahel and the Horn of Africa, to help countries build stronger foundations so that young people are more able to stay rather than seeking to immigrate. He discussed reducing inequality and realizing inclusive and sustainable growth around the world, and how addressing these requires jobs, education, healthcare, attention to the environment, and robust commerce and trade among neighbors and nations. He concluded by saying that the Bank would continue to work with all the nations on these challenges.Publication Remarks by World Bank Group President David Malpass at the Sina Finance 2022 ESG Global Leaders’ Summit(World Bank, Washington, DC, 2022-06-28)These remarks were delivered by World Bank Group President David Malpass at the Sina Finance 2022 ESG Global Leaders’ Summit on June 28, 2022. He mentioned that in response to Russia’s invasion of Ukraine, countries are shifting their energy policy priorities in ways that may slow down the energy transition and affect global climate goals and the achievement of electricity access. He said that the increased price of natural gas is already causing increased use of coal, diesel, and heavy fuel oil in the developing world. He insisted that it will be important to identify, fund and implement the most impactful projects in terms of GHG emissions and resilience in adapting to major climate vulnerabilities. .He said that to help focus efforts in developing countries, the World Bank Group has launched a new core diagnostic called Country Climate and Development Reports, or CCDRs. He described that constant innovation will be needed as the private sector applies significant funding to global public goods. He highlighted that the World Bank promotes global transparency on climate metrics, targets, and outputs so that we can create opportunities, tackle challenges, and help countries maximize positive outcomes in their climate transition. He mentioned that China’s role as a major global creditor gives it additional responsibility to support the global shift toward investments with high ESG standards. He concluded by saying that a commitment to high standards of transparency and environmental and social risk management, similar to the standards that the World Bank Group and other MDBs follow, would help recipient countries achieve sustainable development while also significantly lowering risks for Chinese investors themselves.Publication Remarks by World Bank Group President David Malpass at the Transforming Education Summit during UNGA 77(World Bank, Washington, DC, 2022-09-19)This report discusses the remarks delivered by World Bank Group President David Malpass at the Transforming Education Summit during UNGA 77. The World Bank Group’s support to countries covers the entire learning cycle. We have an active portfolio of 24 billion dollars in education in over 95 countries and are the largest external financer of education for the developing world. The World Bank is very pleased for the opportunity to deepen our partnership on education with other development institutions including UNICEF, UNESCO, the UK’s Foreign Commonwealth and Development Office (FCDO), USAID, and the Bill and Melinda Gates Foundation. We are all committed to action, to continue strongly supporting countries in addressing education challenges through financing and technical assistance.Publication Remarks by World Bank Group President David Malpass to G20 Finance Ministers and Central Bank Governors on the Global Economy and Health Agenda(World Bank, Washington, DC, 2022-07-15)These opening remarks were made by World Bank Group President David Malpass to G20 Finance Ministers and Central Bank Governors on the Global Economy and Health Agenda on July 15, 2022. The report discusses about the COVID-19 pandemic and now Russia’s invasion of Ukraine have caused a humanitarian and economic catastrophe. Recessions are likely in many countries. This will put heavy new burdens on fiscal deficits and debt markets. Ukraine is severely affected. The World Bank Group has been using all our tools to mobilize emergency financing for Ukrainians. More than 6 billion dollars of this financing has already been disbursed. The danger for other developing countries is acute due to inflation, currency depreciation, rising debt service costs, and the collapse of international reserves. These problems are severely constraining future growth and deepening inequality and fragility. The diversion of natural gas to Europe presents grave obstacles to developing country production of electricity, food, and fertilizer. Priority areas identified to complement work by existing institutions include disease surveillance; laboratory systems; emergency communication, coordination, and management; critical health workforce capacities; and community engagement.Publication Remarks by World Bank Group President David Malpass at the State of Global Learning Poverty 2022 Update Report Launch(World Bank, Washington, DC, 2022-06-28)These remarks were delivered by World Bank Group President David Malpass at The State of Global Learning Poverty 2022 Update Report Launch on June 28, 2022. He said that the COVID-related school closures and disruptions have deepened the learning crisis and worsened inequalities in education. He highlighted that the World Bank estimates that the share of 10-year-old children in developing countries who are unable to read and understand a basic text is now at 70 percent. He insisted that it’s urgent for political leaders to act decisively to recover and accelerate learning and avoid a human capital catastrophe. He suggested that they can do that by prioritizing four learning recovery strategies and investments: First, re-enroll and retain children in school; Second, focus on foundational learning; Third, assess students’ learning levels; and Fourth, support teachers with the practical training and learning materials that are proven to help students recover lost learning rapidly. He mentioned that the World Bank is committed to working with partners in support of countries to achieve more equal, effective, and resilient education, particularly for girls. He concluded by saying that it’s critical that children and youth of this generation have the opportunity to shape the future they deserve.
Users also downloaded
Showing related downloaded files
Publication Media and Messages for Nutrition and Health(World Bank, Washington, DC, 2020-06)The Lao People’s Democratic Republic (Lao PDR) has experienced rapid and significant economic growth over the past decade. However, poor nutritional outcomes remain a concern. Rates of childhood undernutrition are particularly high in remote, rural, and upland areas. Media have the potential to play an important role in shaping health and nutrition–related behaviors and practices as well as in promoting sociocultural and economic development that might contribute to improved nutritional outcomes. This report presents the results of a media audit (MA) that was conducted to inform the development and production of mass media advocacy and communication strategies and materials with a focus on maternal and child health and nutrition that would reach the most people from the poorest communities in northern Lao PDR. Making more people aware of useful information, essential services and products and influencing them to use these effectively is the ultimate goal of mass media campaigns, and the MA measures the potential effectiveness of media efforts to reach this goal. The effectiveness of communication channels to deliver health and nutrition messages to target beneficiaries to ensure maximum reach and uptake can be viewed in terms of preferences, satisfaction, and trust. Overall, the four most accessed media channels for receiving information among communities in the study areas were village announcements, mobile phones, television, and out-of-home (OOH) media. Of the accessed media channels, the top three most preferred channels were village announcements (40 percent), television (26 percent), and mobile phones (19 percent). In terms of trust, village announcements were the most trusted source of information (64 percent), followed by mobile phones (14 percent) and television (11 percent). Hence of all the media channels, village announcements are the most preferred, have the most satisfied users, and are the most trusted source of information in study communities from four provinces in Lao PDR with some of the highest burden of childhood undernutrition.Publication Finance and Prosperity 2024(Washington, DC: World Bank, 2024-08-29)While financial sector risks in the larger and higher per capita countries are moderate, half of lower-income countries face significant risks over the next 12 months. Nearly 70 percent of countries facing high financial sector risks are currently not adequately prepared to handle financial stress. The report also identifies a particular risk facing financial sectors in several countries: a large and growing exposure to sovereign debt. This exposure surged to its highest level in the past decade. Finally, the report looks at how countries can enable more climate finance through the banking sector without compromising on the important goals of financial sector stability and inclusion for underserved people.Publication Remarks at the United Nations Biodiversity Conference(World Bank, Washington, DC, 2021-10-12)World Bank Group President David Malpass discussed biodiversity and climate change being closely interlinked, with terrestrial and marine ecosystems serving as critically important carbon sinks. At the same time climate change acts as a direct driver of biodiversity and ecosystem services loss. The World Bank has financed biodiversity conservation around the world, including over 116 million hectares of Marine and Coastal Protected Areas, 10 million hectares of Terrestrial Protected Areas, and over 300 protected habitats, biological buffer zones and reserves. The COVID pandemic, biodiversity loss, climate change are all reminders of how connected we are. The recovery from this pandemic is an opportunity to put in place more effective policies, institutions, and resources to address biodiversity loss.Publication Economic Recovery(World Bank, Washington, DC, 2021-04-06)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.Publication The Journey Ahead(Washington, DC: World Bank, 2024-10-31)The Journey Ahead: Supporting Successful Migration in Europe and Central Asia provides an in-depth analysis of international migration in Europe and Central Asia (ECA) and the implications for policy making. By identifying challenges and opportunities associated with migration in the region, it aims to inform a more nuanced, evidencebased debate on the costs and benefits of cross-border mobility. Using data-driven insights and new analysis, the report shows that migration has been an engine of prosperity and has helped address some of ECA’s demographic and socioeconomic disparities. Yet, migration’s full economic potential remains untapped. The report identifies multiple barriers keeping migration from achieving its full potential. Crucially, it argues that policies in both origin and destination countries can help maximize the development impacts of migration and effectively manage the economic, social, and political costs. Drawing from a wide range of literature, country experiences, and novel analysis, The Journey Ahead presents actionable policy options to enhance the benefits of migration for destination and origin countries and migrants themselves. Some measures can be taken unilaterally by countries, whereas others require close bilateral or regional coordination. The recommendations are tailored to different types of migration— forced displacement as well as high-skilled and low-skilled economic migration—and from the perspectives of both sending and receiving countries. This report serves as a comprehensive resource for governments, development partners, and other stakeholders throughout Europe and Central Asia, where the richness and diversity of migration experiences provide valuable insights for policy makers in other regions of the world.