[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111776-en":3,"doc-seo-111776-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},111776,2336464648746,"Skyler","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","Chair’s Statement - 108th Meeting of the Development Committee - DC Chair’s statement for Oct 12, 2023","Chair’s Statement from Mohamed bin Hadi Al Hussaini, Development Committee (DC) Chair, reflecting the majority view following the Committee’s 108th meeting on October 12, 2023. The statement highlights solidarity with Morocco and Libya after earthquake and flooding, and urges international partners to support reconstruction. It reviews global development challenges, endorsement of the World Bank’s vision and mission, and progress on the Evolution Roadmap, including equity-to-loan changes, lending capacity, and partnership priorities.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee of the  \nBoards of Governors ofthe Bank and the Fundon the  \nTransfer of Real Resources to Developing Countries)  \nDC/S/2023-0068  \nOctober 12, 2023  \nSTATEMENT BY  \nMR. MOHAMED BIN HADI AL HUSSAINI, DC CHAIR  \nAttached for information for the Members of the Development Committee is a Statement, which reflects the views of the majority of Committee Members, from Mr. Mohamed bin Hadi Al Hussaini, DC Chair following the Committee’s one hundred and eighth meeting held on October 12, 2023.  \n*****  \nChair’s Statement: 108th Meeting of the Development Committee  \nMr. Mohamed bin Hadi Al Hussaini,  \nMinister of State for Financial Affairs, United Arab Emirates  \nThe Development Committee met today, October 12, 2023, in Marrakech, Morocco.  \nMembers expressed their solidarity with the Moroccan and Libyan people and their authorities and offered deep condolences to the families of the earthquake and flooding victims. They called on international partners, including the World Bank and the International Monetary Fund (IMF), to provide the necessary assistance for reconstruction efforts. They expressed their utmost appreciation to the Government of Morocco for hosting the Annual Meetings in these challenging circumstances.  \nThe Development Committee recognized that the world faces formidable development challenges, amplified by multiple global crises that have hit the most vulnerable people hardest. These crises have upended decades of hard-won development progress, and the development community must respond together to meet the Sustainable Development Goals (SDGs), eliminate poverty, boost shared prosperity, and address global challenges. Members encouraged international financial institutions (IFIs) to work together with the United Nations, policymakers, and public and private partners to meet the SDGs, help ensure that the benefits of sustainable economic growth are equitably distributed, and focus efforts on helping the world’s poorest and most vulnerable. They indicated that time is of the essence.  \nGovernors endorsed the World Bank’s new vision to create a world free of poverty on a livable planet. They also endorsed its new mission, to end extreme poverty and boost shared prosperity on a livable planet by strengthening inclusion, resilience, and sustainability. This vision and mission will underpin a new playbook with solutions to support country priorities and address intertwined global challenges to drive impactful development with speed and scale.  \nThe Development Committee was encouraged by the substantial progress on the World Bank Evolution Roadmap, strengthening the Bank’s operational and financial model, enhancing its country-driven model, including agreement on eight global challenges1 , and the $50 billion of additional lending capacity over the next ten years. Keeping in view the Capital Adequacy Framework review recommendations, they welcomed the reduction of the policy minimum Equity-to-Loan ratio to 19 per cent; the removal of the Statutory Lending Limit from the IBRD Articles; and the increase in limits on bilateral shareholder guarantees. Members acknowledged that Shareholder participation in the Portfolio Guarantee Platform guaranteeing against sovereign default, and in the hybrid capital instrument, will further strengthen IBRD financing capacity. They noted that additional resources will also be mobilized through the pilot issuance of hybrid capital to the market. Members welcomed additional proposals to increase private capital mobilization, including by IFC and MIGA, the enhancements of Country Private Sector Diagnostics, and the launch of the Private Sector Investment Lab. They also welcomed proposals to increase domestic resources mobilization, including through the new Public Finance Reviews. Members recognized the Bank’s ongoing work on crisis preparedness, response, and recovery, including t","cbCairkL114C8X4S","https://ap.wps.com/l/cbCairkL114C8X4S","pdf",210795,2,1,5,"English","en",105,"# Chair’s Statement: 108th Meeting of the Development Committee\n## Meeting location, solidarity, and condolences\n## Global challenges and SDG priorities\n## World Bank vision, mission, and playbook\n## Evolution Roadmap progress and financing reforms\n## Next steps beyond Marrakech","[{\"question\":\"What event and date does the chair’s statement cover?\",\"answer\":\"It covers the Development Committee’s 108th meeting held on October 12, 2023, in Marrakech, Morocco.\"},{\"question\":\"Who is the statement from?\",\"answer\":\"The statement is delivered by Mohamed bin Hadi Al Hussaini, DC Chair.\"},{\"question\":\"What key reforms and financing updates does the statement highlight?\",\"answer\":\"It highlights progress on the World Bank Evolution Roadmap, additional lending capacity, changes to equity-to-loan and lending limits, and proposals to mobilize private and domestic resources, including new initiatives and 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