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Remarks by World Bank Group President David Malpass at the G20 Joint Finance and Health Ministerial (Inglês)

These remarks were delivered by World Bank Group President David Malpass at the G20 Joint Finance and Health Ministerial on October 29, 2021. He discusses: as we enter the third year of this health and economic crisis, we are witnessing tragic reversals in development. Indicators of poverty, growth, inequality, nutrition, education, climate, and gender equality have all deteriorated. The stakes are even higher today than in 2020 when COVID struck. Outbreaks continue, even as inflation, energy shortages, and the breakdown of supply chains are causing another slowdown. Unsustainable debt burdens are weighing on the future investment climate. Advanced economies have benefited from the recovery, but per capita incomes in developing countries have barely risen from the COVID trough. Our immediate priority remains to accelerate vaccine supplies to developing countries, which are finding themselves at the back of the delivery queue. Both IDA and IBRD have the capacity to provide surge financing in times of crisis through an array of pre-arranged financing tools. We also have staff on the ground who provide real time support and apply our global experience and knowledge. We aggressively frontloaded IDA19, which proved to be one of the most effective tools during the COVID crisis.

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