Development Committee - 108th Meeting - Statement by H.E. Sheikh Salman bin Khalifa Al Khalifa

Jul 19, 2026

Statement by H.E. Sheikh Salman bin Khalifa Al Khalifa at the 108th Development Committee meeting focuses on advancing the World Bank Group’s Evolution Roadmap. The statement endorses a vision and mission centered on ending extreme poverty and addressing inequalities on a livable planet, while emphasizing the need to boost economic growth. It supports global challenge priorities, modernization of the WBG playbook, private capital mobilization through innovative financing tools, and metrics to track PCM, alongside crisis response, partnerships, knowledge strengthening, and operational efficiency across programs.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

108th Meeting Statement

Vision and mission alignment

Global challenges and playbook modernization

Private capital mobilization (PCM)

Blended finance, partnerships, and crisis response

Knowledge compact and operational efficiency

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 EIGHTH MEETING MARRAKECH, MOROCCO – OCTOBER 12, 2023 DC/S/2023-0042 October 12, 2023 Statement by H.E. Sheikh Salman bin Khalifa Al Khalifa Minister of Finance and National Economy Kingdom of Bahrain on behalf of Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Maldives, Oman, Qatar, United Arab Emirates and Yemen Statement by H.E. Sheikh Salman bin Khalifa Al Khalifa Minister of Finance and National Economy Kingdom of Bahrain on behalf of Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Maldives, Oman, Qatar, United Arab Emirates and Yemen 108th Meeting of the Development Committee October 12, 2023 Marrakech, Morocco We commend the Board and Management on the progress made under the Evolution Roadmap. We welcome the new vision of“to create a world free of poverty on a livable planet” and the new mission “to end extreme poverty and boost shared prosperity on a livable planet”. The Vision/Mission is pivotal in positioning the institution for future success and in shaping its purpose and goals. However, it is crucial to ensure that the ending extreme poverty and addressing inequalities continue to be at the heart of the expanded Vision/Mission and the livable planet to capture the economic, social, and environmental aspirations of client countries. Equally important, we need to be reminded that achieving the WBG Vision/Mission will require boosting economic growth. We also support the agreement on eight global challenges: (i) Climate Change Adaptation and Mitigation; (ii) Fragility and Conflict; (iii) Pandemic Prevention and Preparedness; (iv) Energy Access; (v) Food and Nutrition Security; (vi) Water Security and Access; (vii) Enabling Digitalization; and (viii) Protecting Biodiversity and Nature. Furthermore, we support the continuous deliberation of the new Playbook to enhance and modernize the way the WBG provides finance and knowledge, and how to deliver more impactful solutions at greater scale and speed to all its clients. The country-driven model should continue to be the lynchpin of the WB’s engagement model to enhance clients’ ownership and WB’s responsiveness and impact. Working as One World Bank to mobilize private capital and domestic public resources for development will be crucial. In the context of Private Capital Mobilization, we support the rolling out of innovative modalities to mobilize private co-financing of IBRD/IDA projects, such as the Private to Sovereign Climate Financing Investment Fund, wholesale mobilization platforms, and the IFC Warehouse Enabled Securitization Platform. We attach great importance to the new Private Sector Investment Lab, to identify more solutions, including innovating financial mechanisms, to increase private investment in developing countries. We urge the Executive board and management to work together to introduce institutional metrics along with targets and staff incentives to track and boost PCM across the organization. At the same time, PCM needs to be anchored in the Cascade approach, that will ensure and enable a strong pipeline of viable and bankable projects for private investments. Broadening the scope and amount of concessional blended finance is key to the success of PCM, as blended finance can de-risk and unlock key development projects for private finance, we therefore, strongly support replicating IDA’s Private Sector Window (PSW) to support private sector development in non-IDA countries, particularly to address Global challenges. Given the increase in climate crisis, we support enhancing the Crisis Response Toolkit to enable WBs support countries in responding to crisis and the launching of the Climate Resilient Debt Clause for countries most vulnerable to natural disasters. Strengthening p

FAQs

What vision and mission does the statement support for the World Bank Group?

It welcomes the vision to create a world free of poverty on a livable planet and the mission to end extreme poverty and boost shared prosperity on a livable planet, stressing that inequalities and extreme poverty must remain central.

Which global challenges does the statement highlight?

It supports eight global challenges: climate change adaptation and mitigation, fragility and conflict, pandemic prevention and preparedness, energy access, food and nutrition security, water security and access, enabling digitalization, and protecting biodiversity and nature.

How does the statement propose strengthening private capital mobilization?

It calls for rolling out innovative modalities for private co-financing, supporting the Private Sector Investment Lab, introducing institutional metrics with targets and staff incentives, and anchoring PCM in the Cascade approach with scalable, bankable project pipelines.

Jul 19, 2026

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