This year’s World Bank Group-IMF Annual Meetings took place against the backdrop of a series of overlapping crises threatening catastrophic consequences for the poor. The impact of the COVID-19 pandemic, climate change and conflict were the focus for delegates who gathered at the World Bank Group headquarters in Washington DC. In this special edition of The Development Podcast we’ll bring you some of the key moments from this year’s sessions. Leaders, experts, and activists discussed how best to respond to the multiple overlapping crises facing developing countries and how to work together to build a resilient future. Listen now!
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Timestamps
[00:00] Welcome and introduction to the Annual Meetings
[02:12] Addressing multiple crises in an era of volatility
[12:02] Food and fuel crises
[19:09] Inclusive growth and financial inclusion
[24:07] Financing the low-carbon, resilient transition
[27:01] Human capital and education
[33:30] Support to Ukraine
[36:21] Closure and thanks for tuning!
Featured Voices
- Anne Tvinnereim, Norway's Minister of International Development. "Due to the fertilizer crisis, in one season, we will not produce enough food in the world to feed everyone. Now, that's an unprecedented situation."
- Augustine Mayabi, Deputy Director in Kenya's Ministry of ICT Innovation and Youth Affairs. "There is need to reskill. Even the youth who are informal and self-employment, some of them could not have gone to school."
- David Malpass, President, World Bank Group. "We have to work so fast now to create space for the climate problems that are facing many of the developing countries most."
- Janet Yellen, U.S. Secretary of the Treasury. "Meeting Ukraine's needs will require a unified and coordinated effort, but together the G7, the international financial institutions and all of Ukraine's partners can help Ukraine win this war."
- Karima Ola, LeapFrog Investments Partner. "We can't talk about inclusive growth without talking about climate, because then path to net zero is one which impacts different people differently."
- Kristalina Georgieva, Managing Director, International Monetary Fund. "I actually am heartbroken to see the world again, witnessing increasing poverty, increasing hunger and malnutrition."
- Lawrence Summers, President Emeritus and Professor of Harvard University. "There has not been a moment when there was so great an opportunity to invest resources on a large scale in promoting the development of the countries where the vast majority of the world's population lived."
- Makhtar Diop, IFC Managing Director. "Of the the main roadblocks is how do we make sure that we bridge the funds that are available in the private market, the private capital, with the investment needs?."
- Mostafa Terrab, OCP Group Chairman and CEO. "What's visible today has been revealed by a crisis, but it's based on a long-term situation which is a great imbalance between production of fertilizer and what the world needs."
- Rania Al-Mashat, Egypt's Minister of International Cooperation. "One very important message is that climate and development should not be seen as separate objectives. They need to come hand in hand."
- Samuel D. Tweah Jr, Liberia's Minister of Finance and Development Planning. "We need to develop strategies to bring policy makers to that awareness that human capital is as fundamentally important as electricity infrastructure."
- Seedy K. M. Keita, Gambia's Minister of Finance and Economic Affairs. "We import all our energy needs and the spike in the price of energy as well as food had left an untold challenge on both the government and the population."
- Volodymyr Zelensky, President of Ukraine. "We need also targeted credits in the amount of $2 billion to rebuild the electric energy infrastructure after the destruction and to expand our export to Europe."
ABOUT THE DEVELOPMENT PODCAST
This international development podcast brings together the data, research—and solutions—that can pave the way to a sustainable future. Through conversations focused on revealing the latest data, the best research, and cutting-edge solutions, let us introduce you to the folks working to make the world a better place. Listen and subscribe for free on your favorite platform. And rate our show! ;)
Tell us what you think of our podcast here >>>. We would love to hear from you!
ABOUT THE WORLD BANK
The World Bank is one of the world’s largest sources of funding and knowledge for low-income countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.