Transcript of World Bank Group President David Malpass at Spring Meetings 2022 Opening Press Conference
These remarks were delivered by World Bank Group President David Malpass at Spring Meetings 2022 Opening Press Conference on April 20, 2022. He said that the World Bank Group has been acting fast in the face of the crises: first the COVID-19 surge...
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| Format: | Speech |
| Language: | English English |
| Published: |
World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099957304222223859/IDU0ea781eea060b0a3770cc81d001e62f http://hdl.handle.net/10986/37802 |
| Summary: | These remarks were delivered by World
Bank Group President David Malpass at Spring Meetings 2022
Opening Press Conference on April 20, 2022. He said that the
World Bank Group has been acting fast in the face of the
crises: first the COVID-19 surge financing in over the last
two years, which was one of the fastest and largest in our
history; and now putting money into Ukraine and have moved
quickly both to commitments and disbursements, including
nearly 1.5 billion dollars that he announced in Poland last
week. He mentioned that the World Bank is working actively
on climate, through their Climate Change Action Plan and the
formation of Country Climate and Development Reports
(CCDRs), which will identify the high priority items country
by country, in their efforts to mitigate and to adapt to
climate change. He insisted that one of the solutions for
the world is to recognize that markets are forward looking.
He mentioned that as interest rates rise, the debt pressures
are mounting on developing countries, and we need to move
urgently towards solutions. He hopes and expects that many
countries will step forward with individual solutions to
alleviate the food crisis and the fertilizer crisis. He
explained the efforts to support people within Mexico, and
the World Bank is interested in working with governmental
entities on that. He spoke about Nigeria has huge
opportunity because of its natural resources and because of
its people, and could see its growth accelerate with
improvements in policy. He insisted that there needs to be
substantial investment in the backbone of the global
electricity system in terms of baseload and grid in order to
get through to the other side of this energy crisis. He did
a joint statement with IMF, with WTO, and with the World
Food Program late the week before stating these views, that
it's important that the world increase supply and not
close markets, not fragment markets, as we move through this
crisis. He hopes, as we look at the resolution to the
current crisis, one of the key steps will be for the central
banks and the fiscal authorities to use their tools to
improve the allocation, to allow an allocation of capital
that goes more towards small businesses, new businesses, and
developing countries. |
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