Publication: Remarks at the IDA20 Replenishment Meeting
Loading...
Files in English
129 downloads
Published
2021-12-15
ISSN
Date
2021-12-17
Author(s)
Editor(s)
Abstract
World Bank Group President David Malpass noted that Japan is now one of the largest contributors to IDA, a key partner in achieving development results at the global, regional, and country level. He mentioned that for more than 60 years, IDA has provided concessional development financing totaling more than US$458 billion to 114 countries to boost economic growth, reduce poverty and inequality, and improve people’s living conditions. He highlighted that the World Bank’s crisis response to COVID-19 has been the largest in its history, and IDA responded with speed and scale to the unprecedented economic and health crises and committed US$56.9 billion between April 2020 and November 2021. He expressed his appreciation to the IDA Borrower Representatives who have consistently offered their advice, providing a country lens on how the support can best be tailored to meet the needs and priorities of IDA countries. He spoke about the generous pledges that are matched by the most ambitious IDA policy package. He concluded by saying that cross-cutting issues are the foundational building blocks of this policy framework. These include crisis preparedness, which was introduced in IDA20 to build resilience in a world of more frequent crises with compounded effects, as well as ongoing emphasis on governance and institutions, debt sustainability, and digital infrastructure and interventions to foster economic and social inclusion.
Link to Data Set
Citation
“Malpass, David. 2021. Remarks at the IDA20 Replenishment Meeting. Delivered December 15, 2021;. © World Bank. http://hdl.handle.net/10986/36745 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication Opening Remarks at the 2019 Annual Meetings Opening Press Conference(World Bank, Washington, DC, 2019-10-17)David Malpass, President of the World Bank Group, highlighted the urgent priorities for discussion with shareholders. Global growth is slowing. Investment is sluggish, manufacturing activity is soft, and trade is weakening. The challenges of climate change and fragility are making poor countries more vulnerable. This backdrop makes our goals of reducing extreme poverty and boosting shared prosperity even harder. He suggested that with the right mix of policies and structural reforms, countries can unleash growth that's broadly shared across all segments of society. He spoke about how the Bank is helping countries build strong programs tailored to the unique circumstances of their economies. He highlighted the importance of education. He mentioned the proposed IDA replenishment, and reaffirmed commitment to projects on climate and on gender inclusion. In conclusion, he said that the well-designed structural reforms are needed to unlock growth and build the foundations for future prosperity.Publication Remarks at High-Level Event on Financing for Development in the Era of COVID-19 and Beyond(World Bank, Washington, DC, 2020-05-28)David Malpass, World Bank Group President, spoke at the United Nations high-level event on financing for development in the era of Coronavirus (COVID-19) and Beyond. He spoke about two institutions, the IMF and World Bank working closely together on financial and economic challenges, including and especially those affecting the world’s poor. He highlighted on the announcement of milestone by IMF and World Bank Group that emergency health operations approved and up and running in over hundred developing countries. He described the new support programs that, in following weeks, will help developing countries overcome the pandemic and reclaim focus on growth and sustainable development. He invited the participants of the UN event to join the efforts with additional financing. He strongly welcomed the prompt support of the G20 countries for a suspension of debt service by all official bilateral creditors, which included G20 endorsement for comparable treatment by commercial creditors. He said that the World Bank Group is supporting countries that are participating in the moratorium. He welcomed President Xi Jinping’s recent commitment to China’s full participation in the debt moratorium. He invited commercial creditors to agree on terms of reference to encourage their participation, especially given the focus of the initiative on debt relief for the IDA countries, the world’s poorest. He mentioned that the UN’s call for Multilateral Development Bank debt suspension would be harmful to the world’s poorest countries. He spoke about the recent mischaracterizations by parts of the UN regarding the World Bank Group’s involvement as an observer to Egypt, Ethiopia, and Sudan’s negotiations regarding the Grand Ethiopian Renaissance Dam. He concluded by saying that the World Bank Group now has available COVID-19 financing programs in over one hundred developing countries, and invited use of those pathways to expand the financing of the health emergency and expand the response so that we can meet the full brunt of the crisis in the world’s poorest countries.Publication Opening Remarks During the Media Call on the Analytical Chapters of the June 2020 Global Economic Prospects Report(World Bank, Washington, DC, 2020-06-02)These opening remarks were delivered by World Bank Group President David Malpass during the media call on the analytical chapters of the June 2020 global economic prospects report on June 2, 2020. He covered about Bank's support activities, the debt service moratorium for the poorest countries, the progress on debt transparency and some of the next steps. He spoke about how the World Bank Group resources are being scaled up dramatically, providing strong net positive flows, especially to the poorest countries. He highlighted on IDA and IBRD working with countries to expand the coverage of social safety net programs, IFC providing finances to the private sector in developing countries over fifteen months, and MIGA helping to provide a more stable environment for investment by mitigating and managing risks arising from uncertainty. He described the debt moratorium that the World Bank and IMF championed, where the Debt service payments by all official bilateral creditors were suspended on May 1, adding to the potential resources for the poorest countries. He stated that an important part of this initiative is to help governments in debtor countries increase the transparency of their debt and investment practices and disclose the amounts and terms of their debt. He spoke about the Global Economic Prospects (GEP) report which finds a deep global recession, accompanied by a collapse in global trade, tourism and commodity prices and extraordinary market volatility. He said that beyond coping with the immediate crisis to limit the harm, policymakers can make a robust recovery more likely by maintaining private sector systems and infrastructure and allowing markets to allocate resources toward productive activities. He stated that most of the export restrictions that were announced earlier this year have not been implemented and global food prices have mostly remained stable. He highlighted on the important advances that are being made in digital connectivity in developing economies. He concluded by saying that the World Bank Group will continue to take broad, fast action in our response to the needs of people in developing countries.Publication Remarks at the Climate Ambition Summit 2020(World Bank, Washington, DC, 2020-12-12)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.Publication Remarks by World Bank Group President David Malpass on Bretton Woods 75th Anniversary(World Bank, Washington, DC, 2019-07-16)David Malpass, President of the World Bank Group, commemorated the 75th anniversary of the 1944 conference held in Bretton Woods, New Hampshire which led to the creation of the World Bank. He spoke about key historical events and development challenges. He discussed the IDA19 replenishment and its importance to the Sahel. He noted the evolution of development policy and development finance, including highlights like the debt crisis, globally traded bonds, and Green Bonds. He mentioned advisory services and key reports produced by the Group.
Users also downloaded
Showing related downloaded files
Publication Comoros Country Climate and Development Report(Washington, DC: World Bank, 2025-06-18)The Union of the Comoros (The Comoros) has significant vulnerability to climate change-related risks but has considerable opportunities to strengthen preparedness and resilience against these challenges. According to the Notre Dame Global Adaptation Index, the Comoros is the 29th-most vulnerable country to climate change and the 163rd most ready to adapt (out of 191). The Comoros archipelago is exposed to many natural hazards that adversely affect the country’s natural capital, people, and physical infrastructure. In 2014, the economic cost of climate-related disasters was estimated at 5.7 million dollars annually, equivalent to 9.2 percent of Gross Domestic Product (GDP). Between 2018 and 2023, as many as 11 tropical depressions or cyclones impacted the country, with Cyclone Kenneth causing the greatest damage, equivalent to 14 percent of GDP, resulting in total economic growth falling from 3.6 percent in 2018 to 1.9 percent in 2019. More than 345,000 people (40 percent of the population) were affected by the cyclone, with 185,000 people experiencing severe impacts and 12,000 people displaced. However, there is an opportunity for the country to grow more robust and shock-responsive, and to establish pre-positioned funding mechanisms to enhance future crisis response efforts. For the Comoros, adaptation and climate-resilient development are the key climate change focus areas, with the country projected to face 836 million dollars 2050 in additional costs due to climate-related impacts. Current plans to adapt to the impacts of climate change in the Comoros include efforts to improve water management, strengthen coastal protection, and develop climate-smart agriculture practices. Given the country’s reliance on its natural resource base for economic growth and mobility, protection of these resources from climate change will be essential for promoting resilient growth and development. In addition to growing the adaptive capacity of the country’s natural resource sectors, strategic economic diversification will be important to help minimize future climate impacts, and development activities will need to be undertaken in such a way as to attract low-carbon co-benefits. The Union of the Comoros is committed to addressing climate change through its Nationally Determined Contribution (NDC) and national priorities. The country’s NDC (which was revised in 2021 for a ten-year horizon) sets ambitious targets, with a goal of reducing greenhouse gas emissions by 23 percent by 2030. The country also plans to significantly increase the share of renewable energy in its energy portfolio, reaching 33 MW by 2030. This will not only promote low-carbon development but also reduce the country’s dependency on imported oil and coal, which currently make up 95 percent of the energy mix. Additionally, the Comoros has declared its intention to increase CO2 removals by 47 percent by 2030, compared to BAU.Publication Republic of Congo Country Climate and Development Report - Diversifying Congo's Economy(Washington, DC: World Bank, 2023-10-09)The Republic of Congo (RoC) CCDR is a new World Bank core diagnostic report that integrate climate change and development considerations. It is intended to help the country prioritize the most impactful actions that can boost adaptation and reduce greenhouse gas (GHG) emissions, while delivering on broader development goals. The CCDR builds on data and rigorous research and identify main pathways to reduce climate vulnerabilities and GHG emissions, including the costs and challenges as well as benefits and opportunities from doing so. The report highlights that RoC could reduce poverty in rural areas by 40% and in urban areas by 20% by 2050 by implementing more ambitious reforms to promote economic diversification and climate resilience. It also concludes that business as usual is not an option. Economic losses could reach up to 17% of GDP by 2050 if reforms to diversify the economy and attract more climate investments are not taken. Climate impacts could also increase total health costs from $92 million in 2010 to $260 million by 2050. The report identifies four priorities to promote sustainable growth in the country: (i) stronger and greener infrastructure and services in electricity, transport, water, and sanitation can deliver transformative results; (ii) More climate-ready education, health systems and social services can save lives and bring critical resources to the poorest; (iii) More investments in natural capital including climate smart agriculture and greater forest management along will help create jobs while reducing carbon emissions; (iv) better climate governance to leverage carbon markets. The forest contributes to US$260 million in timber exports and store over 44 billion tons of carbon dioxide equivalent emissions. Protecting and valorizing the forest is critical to turn the country’s natural capital into wealth. The report emphasizes that the private sector has a critical role to play in mobilizing financing for an ambitious set of reforms and investments in the context of tight fiscal space. This will require raising awareness on risks and opportunities from climate change, and innovative solutions and financial sector reforms.Publication Senegal Country Climate and Development Report(Washington, DC: World Bank, 2024-11-05)Climate action offers an opportunity to safeguard development gains and accompany the ambitious transformation Senegal is embarking on to achieve its objective of reaching middle income status in the next decade. While the country was among the fastest growing economies in Sub-Saharan Africa (SSA), poverty reduction was slow, vulnerabilities persisted, and inequalities increased. In addition, overall productivity remained low, with lagging structural transformation, high informality, and low job creation. To attain its middle-income goal, Senegal must initiate a series of reforms for a productive, sustainable, and inclusive growth model, with climate considerations at the center given the country’s high vulnerability. Senegal’s high climate vulnerability is caused by the country’s coastal exposure and reliance on natural resources for food, jobs, and growth (partly a consequence of its slow structural transformation). With temperatures soaring, precipitation expected to decrease, and erosion threatening 75 percent of the coastline at term, Senegal’s population and assets are under high risk. The poorest are particularly vulnerable, with 55 percent of total households teetering on the edge of poverty because of recurrent shocks. Without action, annual economic losses could reach 3-4 percent of Gross Domestic Product (GDP) as soon as 2030 and further increase to 9.4 percent by 2050, wiping years of per capita income growth and eroding any potential human capital accumulation. Overall, climate change could push two more million Senegalese in poverty by mid-century. Building resilience and leveraging the low-carbon economy will help Senegal realizing its growth ambitions, contributing to a more productive, sustainable, and inclusive development pathway. The macro-economic analysis for this CCDR finds that adaptation measures in selected sectors could bring GDP gains of about 2 percent by 2030, and between 0.5 and 1 percent afterwards (for climate financing needs of about 0.9 percent of GDP in the period to 2030 and 0.1 percent afterwards). Adaptation could also reduce poverty headcount, with 40 percent less people pushed into poverty by climate change compared to no adaptation action. In addition, emission reductions could reach 20MtCO2e per year over the period to 2050, from interventions in forestry, improved cooking services, urban transport, waste management, and energy production. The energy transition provides an opportunity to meet both development and climate objectives, exceeding NDC targets and putting the country well on track for net zero by 2050, but significant downside risks remain, linked to delays in the deployment and financing availability for renewable generation and domestic gas. Senegal’s formidable renewable energy potential (chiefly around solar) offers the lowest cost generation option to meet rising energy demand while accelerating decarbonization. At term, the country could play a leading role in decarbonizing the region though export opportunities and bolster resilience across the regional grid. In the short term, given constraints to the fast deployment of renewables, the transitional use of domestic gas will help phase out expensive and high-emitting coal and Heavy Fuel Oil (HFO) generation, while balancing the electricity system and lowering the cost of electricity. Climate action will require a financing of US$8.2 billion over 2025-30 (in present value, at 6 percent per year), or 4.5 percent of discounted cumulative GDP over the same period, and US$10.6 billion over 2031-50 (in present value terms), or 2.0 percent of discounted cumulative GDP over the same period. Water security, sustainable (urban) transport, and the energy transition account for the largest share. Importantly, climate action is expected to bring significant benefits over time, beyond climate adaptation and mitigation – including health or jobs, (as in the primary sector, with 155,000 jobs created, of which 80 percent in agriculture). Many benefits could not be properly estimated, implying that the returns from climate action might well be underestimated.Publication Guinea-Bissau Country Climate and Development Report(Washington, DC: World Bank, 2024-10-23)Guinea-Bissau is endowed with a wealth of natural resources, with the highest natural capital per capita in West Africa (US3,874 dollars per capita), which could be leveraged for sustainable and resilient growth. However, Guinea-Bissau faces significant development hurdles, such as high poverty rates, political instability, and economic challenges, including an over-reliance on cashew nuts. Rural poverty has increased, and the nation's infrastructure, education, and health care systems are underdeveloped. Climate change poses a severe threat, potentially impacting agriculture, fisheries, and infrastructure. Without adaptation, it could lead to a significant cut in real GDP per capita (minus 7.3 percent by 2050) and increase in poverty (with up to over 200,000 additional poor by 2050, that is, 5 percent of the expected population, in the worst scenario). The country's low greenhouse gas emissions are expected to rise, mainly due to agriculture and land-use changes, with deforestation being a major contributing factor. Although Guinea-Bissau is a low emitter, it has high mitigation ambitions, targeting a 30 percent reduction in greenhouse gas emissions by 2030. The Nationally Determined Contribution outlines significant climate actions, with initiatives focused on forest conservation, sustainable agriculture, and community development. However, the country's political instability, institutional weaknesses, and limited financial resources pose challenges to implementing these climate commitments, which depend heavily on external funding. The financial sector's underdevelopment and vulnerability to external shocks limit its ability to support green investments, though reforms could enhance resilience. Guinea-Bissau must consider its climate financing as development financing and vice-versa, engage the private sector, and integrate climate goals with national development plans to ensure a sustainable future. Concessional climate financing is vital due to the underdeveloped financial sector and the government’s limited borrowing capacity. Addressing Guinea-Bissau's vulnerability to climate change and its structural issues requires a cohesive approach that integrates development and climate strategies. This could involve improving governance, diversifying the economy, protecting natural capital, developing human capital, and investing in sustainable agriculture and infrastructure. The transition to a more sustainable and inclusive development pathway that supports economic growth is possible, but requires focusing on key strategic sectors, enhancing institutional capacity, and creating the conditions to mobilize finance. As a highly vulnerable country, there are myriad needs in the different sectors; however, to be more efficient and effective, Guinea-Bissau should prioritize actions in a few sectors, especially actions on biodiversity, agriculture, and social protection. Low carbon development, especially in energy and forestry sectors, could provide cost-efficient solutions and attract climate finance, including from the private sector, which will support the overall development agenda.Publication Kyrgyz Republic Country Climate and Development Report(Washington, DC: World Bank, 2025-11-03)This Country Climate and Development Report (CCDR) on the Kyrgyz Republic aims to support the country’s development goals amid a changing climate. The CCDR considers two policy scenarios up to 2050: the business-as-usual (BAU) and high-growth scenarios. As it quantifies the likely impacts of climate change on the Kyrgyz economy between now and 2050, the report highlights key government actions to best prepare for and adapt to climate impacts (referred to as “with adaptation” measures), with a particular focus on the time horizon up to 2030. The CCDR also outlines a path to net zero emissions by 2050 (referred to as “with mitigation” measures, “decarbonization,” or, simply, “net zero 2050”), highlighting associated development co-benefits.