106th Meeting of the Development Committee - Statement by H.E. Kun Liu, Minister of Finance, on behalf of People’s Republic of China - October 14, 2022

Jul 19, 2026

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Statement by H.E. Kun Liu, Minister of Finance, on behalf of the People’s Republic of China, delivered at the 106th Development Committee Meeting on October 14, 2022 in Washington, DC. It addresses the persistent COVID-19 impacts and overlapping crises, and highlights the need for scaled development finance and political neutrality by the World Bank Group. The statement proposes actions in food security, including food assistance, food system development, trade barrier reduction, and stronger agricultural productivity; guidance for energy access and transition; and climate finance mobilization aligned with Paris Agreement principles.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

AccessFree to download

Introduction

Food insecurity and food system development

Energy access and energy transition

Climate finance aligned with the Paris Agreement

Public Disclosure Authorized Public Disclosure Authorized DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors ofthe Bank and the Fund on the Transfer of Real Resources to Developing Countries) ONE HUNDRED AND SIXTH MEETING WASHINGTON, DC – OCTOBER 14, 2022 DC/S/2022-0042 October 14, 2022 Statement by H.E. Kun Liu Minister of Finance on behalf of People’s Republic of China Statement by H.E. Kun Liu Minister of Finance on behalf of People’s Republic of China 106th Meeting of the Development Committee October 14, 2022 Washington, DC We are now facing persistent COVID-19 pandemic with acute risks and challenges such as food and energy crises and climate change, which sets back the progress in global development over the years. In June 2022, Chinese President Xi Jinping hosted the High-level Dialogue on Global Development. He announced a number of concrete actions to implement the Global Development Initiative, and stressed the importance of placing development at the center of the international agenda, generating strong impetus for accelerating the implementation of the UN 2030 Agenda for Sustainable Development. We commend the World Bank Group (WBG) for its swift response to the multiple crises as well as its positive contribution to address global challenges such as climate change. We hope that the WBG will steadfastly uphold the principle of political neutrality, further scale up development finance, give full play to its role as knowledge bank and global convening power, based on its development mandate and comparative advantages and in a demanddriven approach, so as to support developing countries in coordinating their short-term crisis responses and medium-and long-term sustainable development efforts, and continuously promote the Green, Resilient and Inclusive Development Agenda (GRID) . I. Combining efforts in both food assistance and food system development to address the food insecurity in an effective manner. Food security bears on the sound performance of world economy and the effective implementation of the 2030 Agenda for Sustainable Development. In July 2022, China has put forward an initiative on international food security cooperation, offering China’s solution for the global food security challenge. China supports the WBG to strengthen its cooperation with the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), the World Food Program (WFP) and other partners to provide emergency food assistance to the most vulnerable countries and groups. We also support the WBG in its call for reducing food trade and technical barriers to release the export potential of major food net exporting countries to alleviate supply shortage. Strengthening food systems and improving agricultural productivity are important parts of the efforts in food security. The WBG should ramp up its support for agricultural projects in developing countries. First, scaling up investment in agricultural infrastructures in areas such as food production, logistics and storage, as well as expediting project approval and disbursement. Second, supporting the development and use of modern agricultural technology, especially promoting high-yielding grain varieties in grain-deficient parts of the world. Third, strengthening policy advisory services on agriculture and food to help client countries develop pathways for agricultural modernization and food security strategies tailored to their national circumstances. Food reserves are of great significance for ensuring the stability of the food market and the society. Thereis no universal standard for the adequate level of food reserves, which varies from time to time and from country to country. As the global food production continues to be disrupted by frequent extreme weather events and natural disasters, the WBG should support countries with large population to sustain relatively high

FAQs

What global challenges does the statement emphasize in the introduction?

It stresses the persistent COVID-19 pandemic alongside heightened food and energy crises and climate change, which have set back global development progress.

What food-security actions does the statement recommend?

It calls for combining emergency food assistance with food system development, strengthening agricultural cooperation, reducing food trade and technical barriers, scaling agricultural infrastructure investment, advancing modern agricultural technology, and supporting policy advisory services and adequate food reserves.

How does the statement propose approaching energy and climate issues?

It urges balancing energy access with energy transition through a development-oriented approach focused on affordability, accessibility, energy efficiency, and diversified supply while coordinating orderly transition. It also calls for closing the climate finance gap and mobilizing climate finance in line with Paris Agreement core principles.

Jul 19, 2026

Upload by Noah