Remarks at the G20 Session on International Financial Architecture

World Bank Group President David Malpass remarked that early in the pandemic, the World Bank Group set out to use aggressive financial programming and leverage to increase commitments as rapidly as possible. The World Bank group used a number of powerful financial programming and leveraging techniqu...

Full description

Bibliographic Details
Main Author:	Malpass, David
Format:	Speech
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	DEBT RELIEF DEBT SUSTAINABILITY BOND ISSUANCE CAPITAL INCREASE SOCIAL SAFETY NETS DEBT RESTRUCTURING IDA19 IDA20 COMMON FRAMEWORK
Online Access:	http://documents.worldbank.org/curated/en/575951626171528542/Remarks-by-World-Bank-Group-President-David-Malpass-at-the-G20-Session-on-International-Financial-Architecture-Lead-Intervention http://hdl.handle.net/10986/35940

id	okr-10986-35940
recordtype	oai_dc
spelling	okr-10986-359402021-07-17T05:10:51Z Remarks at the G20 Session on International Financial Architecture Malpass, David DEBT RELIEF DEBT SUSTAINABILITY BOND ISSUANCE CAPITAL INCREASE SOCIAL SAFETY NETS DEBT RESTRUCTURING IDA19 IDA20 COMMON FRAMEWORK World Bank Group President David Malpass remarked that early in the pandemic, the World Bank Group set out to use aggressive financial programming and leverage to increase commitments as rapidly as possible. The World Bank group used a number of powerful financial programming and leveraging techniques toward that goal. He highlighted recent capital increases, aggressive leveraging through bond issuance by IBRD, IDA and IFC, as well as MIGA reinsurance, and private sector mobilization, the combined WBG has been able to provide support to low- and middle-income countries over the last fifteen months. This financing is based on world-class knowledge work, and deep country relationships and know-how in our country teams present on the ground around the world. The World Bank Group strongly supports leveraging donor resources to maximize commitments, respond to emergencies, and prepare for crises. The World Bank Group provides grants to countries that are most in need, including fragile and small states and are investing heavily in social safety nets and digital cash transfer programs. Data sharing by both debtors and creditors enables debt reconciliation, a key for the debt restructuring process and he called on the G20 members to share their lending data and assist in the reconciliation exercise. The Group is actively implementing the Sustainable Development Finance Policy under IDA19 and will continue it in IDA20. The Group continues to strongly and actively support the implementation of the Common Framework, working closely with partners. 2021-07-16T15:09:11Z 2021-07-16T15:09:11Z 2021-07-09 Speech http://documents.worldbank.org/curated/en/575951626171528542/Remarks-by-World-Bank-Group-President-David-Malpass-at-the-G20-Session-on-International-Financial-Architecture-Lead-Intervention http://hdl.handle.net/10986/35940 English Delivered in Venice, July 9, 2021; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: President's Speech
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	DEBT RELIEF DEBT SUSTAINABILITY BOND ISSUANCE CAPITAL INCREASE SOCIAL SAFETY NETS DEBT RESTRUCTURING IDA19 IDA20 COMMON FRAMEWORK
spellingShingle	DEBT RELIEF DEBT SUSTAINABILITY BOND ISSUANCE CAPITAL INCREASE SOCIAL SAFETY NETS DEBT RESTRUCTURING IDA19 IDA20 COMMON FRAMEWORK Malpass, David Remarks at the G20 Session on International Financial Architecture
relation	Delivered in Venice, July 9, 2021;
description	World Bank Group President David Malpass remarked that early in the pandemic, the World Bank Group set out to use aggressive financial programming and leverage to increase commitments as rapidly as possible. The World Bank group used a number of powerful financial programming and leveraging techniques toward that goal. He highlighted recent capital increases, aggressive leveraging through bond issuance by IBRD, IDA and IFC, as well as MIGA reinsurance, and private sector mobilization, the combined WBG has been able to provide support to low- and middle-income countries over the last fifteen months. This financing is based on world-class knowledge work, and deep country relationships and know-how in our country teams present on the ground around the world. The World Bank Group strongly supports leveraging donor resources to maximize commitments, respond to emergencies, and prepare for crises. The World Bank Group provides grants to countries that are most in need, including fragile and small states and are investing heavily in social safety nets and digital cash transfer programs. Data sharing by both debtors and creditors enables debt reconciliation, a key for the debt restructuring process and he called on the G20 members to share their lending data and assist in the reconciliation exercise. The Group is actively implementing the Sustainable Development Finance Policy under IDA19 and will continue it in IDA20. The Group continues to strongly and actively support the implementation of the Common Framework, working closely with partners.
format	Speech
author	Malpass, David
author_facet	Malpass, David
author_sort	Malpass, David
title	Remarks at the G20 Session on International Financial Architecture
title_short	Remarks at the G20 Session on International Financial Architecture
title_full	Remarks at the G20 Session on International Financial Architecture
title_fullStr	Remarks at the G20 Session on International Financial Architecture
title_full_unstemmed	Remarks at the G20 Session on International Financial Architecture
title_sort	remarks at the g20 session on international financial architecture
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/575951626171528542/Remarks-by-World-Bank-Group-President-David-Malpass-at-the-G20-Session-on-International-Financial-Architecture-Lead-Intervention http://hdl.handle.net/10986/35940
_version_	1764484089895714816

Remarks at the G20 Session on International Financial Architecture

Similar Items