[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110925-en":3,"doc-seo-110925-105":29,"detail-sidebar-cat-0-en-105":89},{"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":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110925,1374391974585,"Genevieve","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","Development Committee - Statement by Hon. Josh Frydenberg MP - 103rd Meeting (Virtual) - April 9, 2021","Statement delivered by Australia’s Treasurer, Hon. Josh Frydenberg, MP, representing a constituency of multiple developing and Pacific countries at the World Bank Group Development Committee’s 103rd virtual meeting on April 9, 2021. The statement emphasizes support for pandemic response through health systems, budget and balance of payments assistance, and capacity development, while highlighting longer-term impacts such as poverty, inequality, and uncertainty. It calls for increased development financing, including frontloading IDA19 resources and advancing IDA20 replenishment, stresses the vulnerability of small states, outlines equitable vaccine access priorities, and underscores collaboration on debt and climate change.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND THIRD MEETING WASHINGTON, DC – APRIL 9, 2021  \n(VIRTUAL)  \nDC/S/2021-0031 April 9, 2021  \nStatement by  \nHon. Josh Frydenberg, MP  \nTreasurer of Australia  \nAustralia  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu and Vanuatu  \nStatement by  \nHon. Josh Frydenberg, MP  \nTreasurer of Australia  \nAustralia  \nOn behalf of the constituency comprising Australia, Cambodia, Kiribati, Korea (Republic of), the Marshall Islands, Federated States of Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tuvalu and Vanuatu  \n103rd Meeting of the Development Committee  \nApril 9, 2021  \nWashington, DC  \n(VIRTUAL)  \nOverview  \nWe are encouraged by the continued scale and speed of the response from the World Bank Group (WBG) to the immediate impacts of the pandemic, through supporting health systems, delivering balance of payments and budget support assistance, technical advice and capacity development. As the global economy rebounds from a deep recession, there remains considerable uncertainty about near and mediumterm prospects, including in our own region. The Spring Meetings provide an important opportunity to consider the longer term effects of the pandemic, especially increased poverty levels, heightened inequalities and the reversal of a decade of development gains in some countries.  \nIn a context where many fiscal positions are severely stretched, other drivers of long-term growth have weakened, and the pandemic has exacerbated the risks associated with a decade of global debt accumulation in emerging market and developing economies, the WBG’s work will be pivotal in supporting developing countries to navigate the formidable challenges ahead to establish a long term foundation for robust growth and sustainable development. Member countries will be looking for strong collaboration between the WBG and the International Monetary Fund to draw on each institution’s particular strengths, including working together, consistent with their mandates, on debt and climate change to support member countries.  \nDevelopment Financing  \nFor the poorest and most vulnerable countries, COVID-19 has compounded existing crises threatening prosperity, security and human well-being. We fully support the increase in assistance from the WBG to support economic and social recovery efforts, in particular the frontloading of IDA19 resources and advancing IDA20 replenishment discussions by one year. A successful twentieth IDA replenishment will support these countries, as they simultaneously address both the immediate and longer-term impacts ofthe pandemic.  \nSmall states  \nThe pandemic has proved to be a stark reminder of the vulnerability of small island states, such as the Pacific countries in this constituency, which have been disproportionately affected by the crisis. Their narrow economic base, and heavy reliance on tourism and remittances in particular, has resulted in deeper recessions with average real GDP contractions of roughly 8% in 2020; some have experienced double-digit contractions. These states remain susceptible to multiple exogenous shocks, with some having unsustainable debt burdens.  \nWe welcome the WBG’s role in supporting these states as they rebound from the largest collective shock in their history. In some cases, these countries will require a significant shift from the pre-COVID development strategy, towards an economic model that more fully recognizes their underlying vulnerability due to their small scale, remoteness, exposure to natural disasters, climate change and fra","cbCaia8IC2GJ8jux","https://ap.wps.com/l/cbCaia8IC2GJ8jux","pdf",157829,1,4,"English","en",105,"# Overview\n# Development Financing\n# Small states\n# Vaccines\n# Debt","[{\"question\":\"What immediate and longer-term priorities are highlighted in the statement?\",\"answer\":\"The statement supports rapid pandemic response through health systems, budget and balance of payments assistance, and capacity development, while addressing longer-term effects including increased poverty, heightened inequalities, and reversal of development gains.\"},{\"question\":\"How does the statement propose to support the poorest and most vulnerable countries?\",\"answer\":\"It endorses increased assistance from the World Bank Group, especially the frontloading of IDA19 resources and advancing IDA20 replenishment discussions by one year.\"},{\"question\":\"What challenges and actions regarding COVID-19 vaccines are discussed?\",\"answer\":\"It stresses equitable access to safe and effective vaccines, notes global demand outstripping supply and manufacturing capacity constraints, and encourages expanded production, collaboration with multilateral partners like WHO/UNICEF and Gavi/COVAX, and continued cooperation with COVAX for vaccine roll-out 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immediate and longer-term priorities are highlighted in the statement?","Question",{"text":73,"@type":74},"The statement supports rapid pandemic response through health systems, budget and balance of payments assistance, and capacity development, while addressing longer-term effects including increased poverty, heightened inequalities, and reversal of development gains.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"How does the statement propose to support the poorest and most vulnerable countries?",{"text":78,"@type":74},"It endorses increased assistance from the World Bank Group, especially the frontloading of IDA19 resources and advancing IDA20 replenishment discussions by one year.",{"name":80,"@type":71,"acceptedAnswer":81},"What challenges and actions regarding COVID-19 vaccines are discussed?",{"text":82,"@type":74},"It stresses equitable access to safe and effective vaccines, notes global demand outstripping supply and manufacturing capacity constraints, and encourages 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