World Bank Group President David Malpass in Tokyo for IDA20
This blog originally appeared as a Linked-in Post on September 14
I have just returned from Tokyo, Japan, where we held the in-person launch of IDA20. It was delayed from last year due to the complications caused by COVID-19. This week’s launch provided an opportunity to connect in-person on IDA20, whose replenishment of $93 billion was the most ambitious in IDA history.
With multiple overlapping crises affecting the global economy, the role of IDA as a non-fragmented, efficient platform is more important than ever. Global growth is expected to slow sharply from 5.7 percent in 2021 to 2.9 percent in 2022, with further slowing likely as more countries fall into recession. Each step in the progression of crises in recent years is leaving poorer countries further behind, adding to inequality. My deep concern is that these trends will persist.
In light of these facts, a forceful and comprehensive response is needed by the global community to support stronger development. Read my remarks from IDA20 here.
I also had the opportunity to meet key officials in Japan and thank them for hosting the in-person launch of IDA20, in which Japan played a leadership role. I was glad to hold engaging discussions with many Parliamentarians over breakfast – including Foreign Minister Yoshimasa Hayashi and MP Takeaki Matsumoto – covering a wide range of issues from quality infrastructure to pandemic preparedness and debt sustainability.
During my meeting with Liberal Democratic Party Vice President Taro Aso, I expressed my condolences on the passing of former Prime Minister Shinzo Abe. I also expressed my gratitude for MP Aso’s strong historical support for the World Bank Group.
Our team also held a positive exchange of views with Finance Minister Shunichi Suzuki on key development challenges, including debt transparency, resilience and healthcare.
Finally, I was especially happy to meet with Prime Minister Fumio Kishida, and to express the World Bank Group’s full support for Japan in its upcoming 2023 G7 Presidency.
Many thanks to all of our staff and IDA partners for their hard work and leadership.
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