Keynote Remarks by World Bank Group President David Malpass to the European Union-African Union Summit on Peace, Security and Governance
These keynote remarks were delivered by World Bank Group President David Malpass to the European Union-African Union Summit on Peace, Security and Governance on February 17, 2022. He spoke about the global misallocation of capital leaves developing...
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| Format: | Speech |
| Language: | English English |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/702021645432252321/Keynote-Remarks-by-World-Bank-Group-President-David-Malpass-to-the-European-Union-African-Union-Summit-on-Peace-Security-and-Governance http://hdl.handle.net/10986/37883 |
| Summary: | These keynote remarks were delivered
by World Bank Group President David Malpass to the European
Union-African Union Summit on Peace, Security and Governance
on February 17, 2022. He spoke about the global
misallocation of capital leaves developing countries with
inadequate capital flows and unable to sufficiently respond
to the multitude of challenges they face. He mentioned that
the World Bank Group has significantly increased their
support for fragile states over the last five years,
providing 15.8 billion in FY21 for over thirty fragile and
conflict-affected countries, many of them in Africa. He was
gravely concerned by the rapid escalation in conflicts in
countries such as Burkina Faso and Ethiopia. He said that
without good governance, Africa will continue to face
underinvestment, insufficient access to electricity and
clean water, and regulatory barriers. He highlighted on
their operations working toward better outcomes in terms of
reduced poverty and higher incomes which means governance
that promotes trade facilitation, builds accountability
mechanisms, enhances systems for service delivery, and
fosters citizen engagement. He declared that the Recovery
and Peacebuilding Assessment between the EU, UN, and the
World Bank helps governments identify their priority needs
for recovery, reconstruction, and peacebuilding. He also
works with the UN Peacekeeping Missions in Democratic
Republic of Congo, Mali, and the Central African Republic,
where they have been able to provide rapid support once
insecure areas are stabilized. He concluded with noting that
by 2030, two-thirds of the world’s extremely poor people
could be living in fragile countries, and together with
their development partners, they must continue to ramp up
our efforts to support the world’s poorest and most fragile
states in becoming more resilient, peaceful, just, and
economically robust. |
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