Everyone should be able to live a sustainable life on a healthy planet. But the last six years have been the hottest on record. Record-breaking wildfires, droughts, floods and hurricanes have taken lives, damaged homes, hospitals and businesses. Meanwhile, COVID-19 took a heavy health and economic toll and pushed millions into extreme poverty.

How can we change course?

As countries renew their commitments to the Paris Agreement ahead of a pivotal November meeting in Glasgow, keeping global temperature rise to well below 2°C will require coordinated global action at an unprecedented scale and speed.

“The science is coming back at us stronger, harder, bigger, faster, and it's telling us that we are running out of time,” said John Kerry, US Special Presidential Envoy for Climate Change, at an April 8 virtual event during the World Bank Group-IMF Spring Meetings.

Decarbonizing key sectors

The event, Key Green Transitions: How Systems...

Prospects of an economic rebound in South Asia are firming up as growth is set to increase by 7.2 percent in 2021 and 4.4 percent in 2022, but growth is uneven and economic activity well below pre-COVID-19 estimates.

About the Event: 

The rollout of COVID-19 vaccines in developing countries is critical to protecting lives, building human capital, and stimulating economic recovery. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further.

This event begins with voices of youth from around the world reflecting on the impact of the pandemic and their hopes for a speedy recovery with a return to school, friends, and family.

World Bank Group President David Malpass then describes what vaccines mean for the world, what needs to be done to accelerate production and ensure safe and effective distribution to developing countries, and the importance of collaboration amongst all stakeholders for a sustainable and inclusive recovery. Read More

(Download the event transcript .txt)

As countries rebuild their economies after COVID-19, it is fundamental that they see this as a unique opportunity to lay the foundation for a green, resilient, and inclusive future. These efforts were the theme of the event kicking off the Spring Meetings on Tuesday, Economic Recovery: Toward a Green, Resilient, and Inclusive Future.

World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence. U.S. Treasury Secretary Janet Yellen encouraged developed economies to continue to support a global recovery. She also highlighted the importance of helping developing countries meet their climate goals along with their development objectives, adding that the availability of green finance will be critical. IMF Managing Director Kristalina Georgieva was also part of the conversation with Malpass and Yellen,...

(Download the event transcript .txt)

As countries rebuild their economies after COVID-19, it is fundamental that they see this as a unique opportunity to lay the foundation for a green, resilient, and inclusive future. These efforts were the theme of the event kicking off the Spring Meetings on Tuesday, Economic Recovery: Toward a Green, Resilient, and Inclusive Future.

World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence. U.S. Treasury Secretary Janet Yellen encouraged developed economies to continue to support a global recovery. She also highlighted the importance of helping developing countries meet their climate goals along with their development objectives, adding that the availability of green finance will be critical. IMF Managing Director Kristalina Georgieva was also part of the conversation with Malpass and Yellen,...

I am grateful for the kind invitation to address the participants in the World Bank Group and International Monetary Fund 2021 Spring Meetings by means of this letter, which I have entrusted to Cardinal Peter Turkson, Prefect of the Holy See’s Dicastery for Promoting Integral Human Development.

In this past year, as a result of the Covid-19 pandemic, our world has been forced to confront a series of grave and interrelated socio-economic, ecological, and political crises.  It is my hope that your discussions will contribute to a model of “recovery” capable of generating new, more inclusive and sustainable solutions to support the real economy, assisting individuals and communities to achieve their deepest aspirations and the universal common good.  The notion of recovery cannot be content to a return to an unequal and unsustainable model of economic and social life, where a tiny minority of the world’s population owns half of its...

(Download the event transcript .txt)

As countries rebuild their economies after COVID-19, it is fundamental that they see this as a unique opportunity to lay the foundation for a green, resilient, and inclusive future. These efforts were the theme of the event kicking off the Spring Meetings on Tuesday, Economic Recovery: Toward a Green, Resilient, and Inclusive Future.

World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence. U.S. Treasury Secretary Janet Yellen encouraged developed economies to continue to support a global recovery. She also highlighted the importance of helping developing countries meet their climate goals along with their development objectives, adding that the availability of green finance will be critical. IMF Managing Director Kristalina Georgieva was also part of the conversation with Malpass and Yellen,...

The COVID-19 pandemic has caused an unprecedented health, economic, and social crisis. It is threatening the lives and livelihoods of millions, increasing poverty and inequality, and reversing development gains. To move toward a global recovery will require sustained, differentiated, and targeted financial and technical support to governments and the private sector.

These were key messages from the Development Committee, a ministerial-level forum that represents 189 member countries of the World Bank Group and the International Monetary Fund, in a communiqué issued at the institutions’ Spring Meetings. The committee encouraged the Bank Group and the IMF to continue working closely together and with other partners in assisting developing countries’ COVID response.

The meetings also included a series of flagship events that were open to the public and are accessible online. These brought together global thought leaders for discussions of...

#Debt4Dev

On April 7th, the World Bank invited several leading experts to explore perspectives on a new global financial architecture for debt. Speakers discussed lessons from past restructuring efforts, the private sector’s role, and the increased need for debt transparency.

Zainab Haruna of Nigeria began the conversation by explaining how government debt can affect the lives of everyday people. Angolan Finance Minister Vera Daves spoke with World Bank Group President David Malpass about how the economic fallout from COVID-19 has affected her country’s revenue and debt levels. Kevin Watkins, Chief Executive Officer of Save the Children, and K.Y. Amoako, President of the African Center for Economic Transformation, described how unsustainable debt can hold back the progress of countries, diverting resources that could otherwise be used to invest in health, education, and more. Citi’s Julie Monaco and World Bank Chief Economist Carmen Reinhart both referenced...

(Download the event transcript .txt)

As countries rebuild their economies after COVID-19, it is fundamental that they see this as a unique opportunity to lay the foundation for a green, resilient, and inclusive future. These efforts were the theme of the event kicking off the Spring Meetings on Tuesday, Economic Recovery: Toward a Green, Resilient, and Inclusive Future.

World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence. U.S. Treasury Secretary Janet Yellen encouraged developed economies to continue to support a global recovery. She also highlighted the importance of helping developing countries meet their climate goals along with their development objectives, adding that the availability of green finance will be critical. IMF Managing Director Kristalina Georgieva was also part of the conversation with Malpass and Yellen,...

About the Event: 

The rollout of COVID-19 vaccines in developing countries is critical to protecting lives, building human capital, and stimulating economic recovery. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further.

This event begins with voices of youth from around the world reflecting on the impact of the pandemic and their hopes for a speedy recovery with a return to school, friends, and family.

World Bank Group President David Malpass then describes what vaccines mean for the world, what needs to be done to accelerate production and ensure safe and effective distribution to developing countries, and the importance of collaboration amongst all stakeholders for a sustainable and inclusive recovery. Read More

#GreenRecoveryWBG

Everyone should be able to live a sustainable life on a healthy planet. But the last six years have been the hottest on record. Record-breaking wildfires, droughts, floods and hurricanes have taken lives, damaged homes, hospitals and businesses. Meanwhile, COVID-19 took a heavy health and economic toll and pushed millions into extreme poverty.

How can we change course?

As countries renew their commitments to the Paris Agreement ahead of a pivotal November meeting in Glasgow, keeping global temperature rise to well below 2°C will require coordinated global action at an unprecedented scale and speed.

“The science is coming back at us stronger, harder, bigger, faster, and it's telling us that we are running out of time,” said John Kerry, US Special Presidential Envoy for Climate Change, at an April 8 virtual event during the World Bank Group-IMF Spring Meetings.

Decarbonizing key sectors

The event, Key...

#Debt4Dev

On April 7th, the World Bank invited several leading experts to explore perspectives on a new global financial architecture for debt. Speakers discussed lessons from past restructuring efforts, the private sector’s role, and the increased need for debt transparency.

Zainab Haruna of Nigeria began the conversation by explaining how government debt can affect the lives of everyday people. Angolan Finance Minister Vera Daves spoke with World Bank Group President David Malpass about how the economic fallout from COVID-19 has affected her country’s revenue and debt levels. Kevin Watkins, Chief Executive Officer of Save the Children, and K.Y. Amoako, President of the African Center for Economic Transformation, described how unsustainable debt can hold back the progress of countries, diverting resources that could otherwise be used to invest in health, education, and more. Citi’s Julie Monaco and World Bank Chief Economist Carmen Reinhart both referenced...

The Global Boardroom returns for its third edition to discuss the practical steps governments, business and finance can take to build a resilient, sustainable recovery, more than a year into a crisis that has crippled the global economy and fundamentally changed the way we live, work and communicate.As COVID-19 continues to spread, how effective will the vaccination programmes be and to what extent have they brought forward the timing of a recovery? What impact will the new US administration have on domestic and global affairs? What should businesses do to assure future growth and competitiveness?Join the FT’s top journalists in a series of live online conversations with leading policy-makers, CEOs and investors -- across three days and multiple time zones from Asia through to Europe, Africa, the Middle East and the Americas -- to debate and design the most effective post-pandemic strategies.