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...

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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 highlighted the importance of digital technologies in African countries, and the latest Africa’s Pulse provides new evidence on how digital is enhancing the productivity of existing jobs and creating new jobs, for people of all skill levels and backgrounds. This is particularly important as the region looks toward economic recovery post-pandemic, and many Sub-Saharan African countries are making tremendous investments to advance digital adoption and build skills. Against the backdrop of a COVID-19 induced recession, African countries are weathering the economic storm better than expected and are poised for recovery, but the strength of this recovery depends on the reforms, policies, and investments that countries make now.  

Hosted by Georja Calvin-Smith of France 24, join a panel of Africa’s distinguished ministers, entrepreneurs, and leaders in the digital space to discuss the future of work in Africa. They will touch on how...

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...

#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...

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, pointing out that climate risks are a growing...

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, pointing out that climate risks are a growing...

COVID-19 vaccines, alongside widespread testing, improved treatment and strong health systems are critical to save lives and strengthen the global economic recovery. To provide relief for vulnerable populations, low- and middle-income countries need fair, broad, and fast access to effective and safe vaccines.

That’s why the World Bank (WB) is building on its initial COVID-19 response with $12 billion to help poor countries purchase and distribute vaccines, tests, and treatments. The first WB-financed operation to support vaccine rollout was approved in January 2021. 

By March 31, 2021, the WB had already committed $1.6 billion in vaccine financing in 10 countries including Afghanistan, Cabo Verde, Bangladesh, Lebanon, Mongolia, Nepal, Philippines, Tajikistan, and Tunisia. More than 40 additional projects are in the pipeline and will be approved in the coming weeks and months. All approved projects are summarized...

#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...

#InclusiveFuture

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, pointing out that...

Join us April 5-11 for four flagship events covering climate, debt, vaccines and economic recovery. Learn more about the Meetings below, and be sure to sign up for an email reminder so you don’t miss an event!

Give us 20 minutes, and we’ll take you on a journey around the world of international development in this flagship podcast from the World Bank Group. Everyday World Bank researchers and staffers are working to address the biggest international problems – everything from poverty to climate change, education to nutrition, and a whole lot more. Through conversations focused on revealing the latest data, the best research, and the solutions making the world a better place, let hosts Paul Blake and Raka Banerjee introduce you to the folks working to make the world a better place.

Join us April 5-11 for four flagship events covering climate, debt, vaccines and economic recovery. Learn more about the Meetings below, and be sure to sign up for an email reminder so you don’t miss an event!