Statement by François-Philippe Champagne - 113th Meeting of the Development Committee - April 16, 2026 - Washington, DC

Jul 19, 2026

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Statement by François-Philippe Champagne, Canada’s Minister of Finance and National Revenue, on behalf of multiple countries at the 113th Meeting of the Development Committee (April 16, 2026, Washington, DC). The statement addresses heightened global uncertainty from shocks, fragility, geopolitical tensions, energy and trade disruptions, and tighter financial conditions that threaten low-income development gains. It urges restraint and support for humanitarian access in Gaza, highlights support for Ukraine, and emphasizes jobs, private-sector enabling conditions, women and youth opportunity, health and education investment, and continued ambitious climate action.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

113th Meeting of the Development Committee

Global economic challenges and risks

Middle East, Gaza, and humanitarian access

Peace, multilateralism, and support for Ukraine

Job creation, quality employment, and private sector role

Economic opportunity for women and youth and human capital

Climate action, resilience, and climate finance

Public Disclosure Authorized DEVELOPMENT COMMITTEE (Joint Ministerial Committee of the Boards of Governors ofthe Bank and the Fundon the Transfer of Real Resources to Developing Countries) ONE HUNDRED AND THIRTEENTH MEETING WASHINGTON, DC – APRIL 16, 2026 Pub lic Disc losure Authorized DC/S/2026-0034 April 16, 2026 Statement by The Honourable François-Philippe Champagne Minister of Finance and National Revenue Canada on behalf of Antigua and Barbuda, The Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Guyana, Ireland, Jamaica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines Statement by The Honourable François-Philippe Champagne Minister of Finance and National Revenue Canada on behalf of Antigua and Barbuda, The Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Guyana, Ireland, Jamaica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines 113th Meeting of the Development Committee April 16, 2026 Washington, DC The global economy is navigating a period of heightened uncertainty, marked by repeated economic shocksand rising fragility. Heightened geopolitical tensions and conflicts are compounding pre-existing disruptions to energy markets, supply chains, and trade, while fueling renewed inflationary pressures. Tighter financial conditions are further constraining countries’ ability to respond and amplifying vulnerabilities. These challenges fall most acutely on low-income countries whose hard-won development gains now stand at risk. Against this backdrop, the World Bank Group is indispensable in supporting stability, and economic growth, and delivering results where they are most needed. We remain concerned about the potential for further instability across the Middle East and beyond the immediate conflict zone, with wider humanitarian, economic and security implications, including for vulnerable economies such as small island developing states, whose dependence on imports of energy and other commodities leaves them particularly exposed. We urge all parties to exercise maximum restraint, respect international law, and build on the ceasefire to permanently de-escalate hostilities. On Palestine, we fully support advancing the Comprehensive Plan to End the Gaza Conflict in accordance with relevant UN Security Council resolutions and in cooperation with international and regional stakeholders. We call on all parties to adhere to their commitments in full, including allowing sustained humanitarian assistance at scale with safe and unimpeded access into and within Gaza. We urge the World Bank Group to be prepared to support reconstruction and recovery once conditions allow. With progress toward peace and shared prosperity under strain, we reaffirm our strong commitment to rules-based multilateralism and the principles of sovereignty and territorial integrity. We reiterate our unwavering support for Ukraine in the face of Russia’s illegal war of aggression and remain committed to working with partners toward a just and lasting peace. We commend the World Bank Group for its leadership in mobilizing support to meet Ukraine’s immediate needs, sustain macroeconomic stability, and support recovery and reconstruction. Canada’s recent announcement of a loan guarantee of up to US$1 billion dollars reflects our commitment to Ukraine and to ensuring the Bank can continue to respond at scale in times of crisis. Ireland also recently announced €40 million in humanitarian and long-term development assistance to Ukraine, in addition to €25 million to help repair Ukraine’s critical energy infrastructure. During its EU Council Presidency, Ireland will prioritise its support for Ukraine. We welcome the World Bank Group’s continued emphasis on job creation and quality employment as central to reducing poverty and advancing shared prosperity, as well as the introduction of a dedicated jobs indicator in the corporate scorecard. In the current context

FAQs

What global economic pressures does the statement highlight as affecting development?

It cites heightened uncertainty from repeated shocks, rising fragility, geopolitical tensions disrupting energy markets, supply chains and trade, renewed inflation pressures, and tighter financial conditions. These factors especially endanger low-income countries’ development gains.

What does the statement call for regarding the Gaza conflict?

It supports advancing the Comprehensive Plan to End the Gaza Conflict, urges adherence to commitments including sustained humanitarian assistance at scale, and calls for safe and unimpeded access into and within Gaza. It also asks the World Bank Group to be prepared to support reconstruction once conditions allow.

How does the statement propose reducing poverty and supporting stability?

It emphasizes job creation and quality employment, linked to productive, well-paying work that strengthens income security, domestic demand, and social cohesion. It further stresses an enabling environment for the private sector and greater focus on women and young people’s economic opportunity.

Jul 19, 2026

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