ContextRemarks by World Bank Group President Ajay Banga at Laying the Groundwork for Jobs in Africa: Core Infrastructure & Business Environments Conference.
Why it mattersThe World Bank President puts jobs for young Africans at the centre of development and links them to migration and fragility.
Problems raised
Millions of young Africans need jobs.
Without work, migration and fragility pressures will grow.
Business environments hold back private investment.
Solutions proposed
Build core infrastructure.
Help the private sector scale with guarantees and equity.
ContextAddress at the Lowy Institute in Sydney, ending a tour of every region where the bank works; the World Bank fights poverty and seeks more resources for climate and development.
Why it mattersThe World Bank chief sets the goal of electricity for 300 million Africans by 2030.
Problems raised
Africa lacks reliable energy.
Private investment in emerging-market renewables is low.
Challenges differ by region.
Solutions proposed
Bring energy to 300 million Africans by 2030.
Work with leading CEOs to boost private investment.
ContextRemarks in Rio de Janeiro at the G20 launch of the Global Alliance Against Hunger and Poverty; the World Bank fights poverty and must tackle food insecurity.
Why it mattersThe World Bank chief links farm productivity to ending hunger.
ContextRemarks at a COP28 event on transforming climate finance in Dubai; the World Bank fights poverty and wants more private money for climate action.
Why it mattersThe World Bank extends disaster pause clauses to existing loans for the most vulnerable countries.
Problems raised
The world faces a critical moment for people and the planet.
Vulnerable countries are overwhelmed by debt when disasters strike.
Solutions exist but the courage to pursue them is lacking.
Solutions proposed
Extend Climate Resilient Debt Clauses to all existing loans for the most vulnerable.
Allow a pause on both principal and interest payments after disasters.
Use concessional resources to cover the related fees.
ContextRemarks by World Bank Group President David Malpass at the G7 Hiroshima Summit Side Event on the Partnership for Global Infrastructure and Investment.
Why it mattersMalpass proposes making infrastructure debt an investable asset class.
Problems raised
Infrastructure development needs vast resources.
Private capital is not flowing to developing countries.
Infrastructure debt is hard to invest in.
Solutions proposed
Create an investable asset class for infrastructure.
Standardise financing instruments with verifiable results.
ContextRemarks by World Bank Group President David Malpass at the Graduation Ceremony for the 9th Cohort of the IFC-Milken Institute Capital Markets Education Program.
Why it mattersMalpass encourages finance professionals to develop capital markets at home.
Problems raised
Developing countries need stronger capital markets.
ContextPress conference during the 2023 World Bank and IMF Spring Meetings in Washington; the World Bank fights poverty and faces debt distress in poor countries.
Why it mattersMalpass criticises the slow pace of debt relief for poor countries.
Problems raised
The G20 Common Framework is too slow.
Dollar debt becomes heavier when currencies weaken.
ContextRemarks by World Bank Group President David Malpass at the G20 Finance and Central Bank Governors’ Meeting at the 2023 Spring Meetings – Session 2: Sustainable Finance.
Why it mattersMalpass proposes standardised climate assets to attract private investors.
Problems raised
Developing countries lack capacity to implement climate plans.
Transition paths are costly.
Private climate finance is insufficient.
Solutions proposed
Use Country Climate and Development Reports.
Integrate climate and development in lending.
Create a global asset class through standardisation and risk diversification.
ContextFireside chat at the Atlantic Council in Washington, near the end of the speaker's term; the World Bank fights poverty and faces debt and growth crises in poor countries.
Why it mattersMalpass reflects on debt overhang as his term ends.
ContextSpeech in Niamey, hosted by Abdou Moumouni University, ahead of the 2023 Spring Meetings; the World Bank fights poverty and supports fragile countries in the Sahel.
Why it mattersMalpass urges Sahel governments to keep interventions targeted and temporary.
ContextRemarks by President David Malpass at the Center for Strategic and International Studies on Strengthening of World Bank Delivery on Private Capital Facilitation.
Why it mattersMalpass presents blended finance to draw private money to poor countries.
ContextRemarks at the Global Sovereign Debt Roundtable in Bengaluru, with the IMF chief and India's finance minister; the World Bank fights poverty and wants faster debt restructuring.
Why it mattersMalpass calls for faster restructurings for Zambia, Ghana, Ethiopia and Sri Lanka.
Problems raised
Sovereign debt problems block development.
Restructurings take too long.
Liquidity-only solutions lead to repeated crises.
Solutions proposed
Speed up debt restructuring processes.
Identify barriers through open roundtable discussions.
Deliver solutions for Zambia, Ghana, Ethiopia and Sri Lanka.
ContextRemarks at the G20 finance ministers and central bank governors meeting in Bengaluru, session on the international financial architecture; the World Bank fights poverty and is reviewing its role.
Why it mattersMalpass announces emergency support for Türkiye after the earthquake.
ContextRemarks at the G20 finance meeting in Bengaluru, session on financial sector and inclusion; the World Bank fights poverty and supports digital public infrastructure.
Why it mattersMalpass holds up India's digital ID and payment rails as a model.
Problems raised
Financial inclusion is incomplete in many countries.
Climate disclosure rules may burden emerging markets.
Capital market development could slow.
Solutions proposed
Build digital public infrastructure like India's.
Phase in sustainability disclosure standards proportionally.
Support payment systems, digital ID and data sharing.
ContextRemarks by World Bank Group President David Malpass at the COP27 High Level Event - Powering the Southern African Power Pool with Renewables: An Investment Case.
Why it mattersMalpass promotes regional renewable power integration in Southern Africa.
ContextRemarks by World Bank Group President David Malpass at the U.S. Treasury’s MDB Governors Roundtable on the Partnership for Global Infrastructure and Investment (PGII) and Private Capital Mobilization.
Why it mattersMalpass calls for project pipelines to attract private infrastructure finance.
Problems raised
Private investment in developing countries is too low.
Infrastructure needs are large.
Projects are risky for investors.
Solutions proposed
Improve the enabling environment for investment.
Develop project pipelines and de-risk investments.
ContextRemarks By World Bank Group President David Malpass at an Event for the Africa Higher Education Centers of Excellence: A Pathway Towards Sustainable Development.
Why it mattersMalpass supports African university centres training scientists.
Problems raised
Africa's transformation depends on workforce skills.
Innovation ecosystems are weak.
Scientists and engineers are too few.
Solutions proposed
Support Africa Higher Education Centers of Excellence.
ContextRemarks by World Bank Group President David Malpass at the Eighth Ministerial Meeting of the Coalition of Finance Ministers for Climate Action – Annual Meetings 2022.
Why it mattersMalpass urges finance ministers to replace regressive subsidies with targeted transfers.
Problems raised
Climate and development must be integrated.
Global public goods lack financing.
Subsidies are regressive and costly.
Solutions proposed
Implement the Climate Change Action Plan.
Build financing mechanisms for climate action.
Phase out regressive subsidies with targeted transfers.
ContextSpeech at the Stanford Institute for Economic Policy Research before the 2022 Annual Meetings; the World Bank fights poverty and warns of a crisis for development.
Why it mattersMalpass warns that rich countries' policies hurt developing economies.
Problems raised
Development is in crisis.
High debt makes developing countries vulnerable.
Fiscal and monetary policy overlap threatens independence.
Solutions proposed
Improve macroeconomic policies in advanced economies.
ContextRemarks at a UN General Assembly side event on digital public infrastructure, co-organised with UNDP, UNICEF and partner countries; the World Bank fights poverty and supports digital services.
Why it mattersMalpass promotes digitising government payments.
ContextRemarks in Tokyo at the launch of IDA20, the replenishment of the World Bank's fund for the poorest countries; the World Bank fights poverty and relies on donor support.
Why it mattersMalpass thanks Tokyo for leading the record replenishment for the poorest economies.
Problems raised
The poorest countries face overlapping crises.
Fragile and conflict-affected populations are most vulnerable.
Development financing needs are large.
Solutions proposed
Launch the IDA20 replenishment with Japan's leadership.
Focus support on the most vulnerable groups.
Deliver concessional finance to the poorest countries.
ContextRemarks by World Bank Group President David Malpass at the WHO Ministerial Briefing on the Global COVID-19 Vaccination Strategy and Implementation.
Why it mattersMalpass urges continued vaccine deployment as attention shifts.
ContextRemarks by World Bank Group President David Malpass to G20 Finance Ministers and Central Bank Governors on the Global Economy and Health Agenda.
Why it mattersMalpass calls for policies that encourage production.
Problems raised
COVID and the war caused a catastrophe.
Fiscal deficits and debt rise.
Health systems need strengthening.
Solutions proposed
Improve regulatory policy to encourage production.
ContextIntroductory remarks at a Brookings Institution event on the state of the global economy; the World Bank fights poverty and faces a sharp slowdown.
Why it mattersMalpass calls for consensus on debt reduction.
ContextPublic conversation with the USAID Administrator in a World Bank series; the World Bank fights poverty and coordinates with donors on crisis response.
Why it mattersMalpass discusses diversifying fertiliser sources with USAID.
ContextRemarks by World Bank Group President David Malpass on World Environment Day 2022 – “Mobilizing Communities for Sustainability: The Role of the Indian State”.
Why it mattersMalpass supports India's community-based sustainability initiative.
ContextPublic conversation with the Center for Global Development's president in a World Bank series; the World Bank fights poverty and faces food and energy crises.
Why it mattersMalpass discusses the food crisis and stuck debt restructurings.
Problems raised
The food crisis raises risks of hunger and famine.
ContextRemarks at a ministerial roundtable on support to Ukraine during the 2022 Spring Meetings in Washington; the World Bank fights poverty and mobilises aid for Ukraine.
Why it mattersMalpass seeks grants rather than loans to fill Ukraine's financing needs.
ContextRemarks by World Bank Group President David Malpass to the U.S. Treasury’s Event on “Tackling Food Insecurity: The Challenge and Call to Action”.
Why it mattersMalpass warns of a global food crisis caused by the war.
ContextRemarks by World Bank Group President David Malpass at the Seventh Ministerial Meeting of the Coalition of Finance Ministers for Climate Action.
Why it mattersMalpass calls for prioritising climate projects with the largest impact.
ContextRemarks at the opening of the Ninth World Water Forum in Dakar, hosted by Senegal's President; the World Bank fights poverty and invests in water security.
Why it mattersMalpass links water scarcity to peace and development.
ContextRemarks by World Bank Group President David Malpass to G20 Finance Ministers and Central Bank Governors in the High-Level Seminar on Strengthening Global Health Architecture.
Why it mattersMalpass proposes a financial intermediary fund for health.
