Statement by H.E. Magdalena Andersson - 104th Meeting - on COVID-19 and Climate

Jul 19, 2026

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Statement delivered by H.E. Magdalena Andersson, Minister of Finance of Sweden, on behalf of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden at the 104th Development Committee meeting. It prioritizes ending the COVID-19 pandemic through global vaccination goals, leadership on vaccine supply via COVAX, and strengthening health emergency preparedness in developing countries. It also urges urgent climate action, carbon pricing, adequate climate finance, and a GRID-guided recovery, alongside gender-focused measures to address inequality intensified by COVID-19.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

Key priorities: COVID-19 pandemic

Global vaccination goals and World Bank involvement

Coordination mechanism with COVAX

Health emergency preparedness

Climate change urgency and required actions

Carbon pricing and climate finance

Paris Agreement-aligned implementation measures

Fossil fuel phase-out and just transition

Renewable energy investment pipeline

Recovery framework and inequality considerations

GRID approach for pandemic recovery

Structural inequalities and gender strategy

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 FOURTH MEETING WASHINGTON, DC – OCTOBER 15, 2021 DC/S/2021-0045 October 15, 2021 Statement by H.E. Magdalena Andersson Minister of Finance Sweden on behalf of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden Statement by H.E. Magdalena Andersson Minister of Finance Sweden on behalf of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden 104th Meeting of the Development Committee October 15, 2021 Washington, DC Ending the COVID-19 pandemic is our most pressing priority. 1. The pandemic has truly been an unprecedented shock both to global health and to the global economy. Let us remind ourselves that the pandemic is far from over. Putting an end to it must remain the highest priority. Achieving global vaccination is pressing. No one is safe until everyone is safe. 2. We welcome the global goal to vaccinate at least 40 percent of the population in all countries by the end of this year and at least 70 percent by mid-2022 and welcome the World Bank’s involvement in the Multilateral Leaders Task Force. Global vaccination is crucial not only to save lives, but to avoid the major economic downside risks posed by new virus mutations. It is in every country’s interest that outbreaks of infectious diseases are prevented and halted, now and in the future. 3. We applaud the establishment of a collaborative mechanism between the Bank and COVAX to accelerate COVID-19 vaccine supply for developing countries. We urge the Bank to continue to show strong leadership by keeping up its good work on financing and implementing vaccination campaigns globally. We need a strong international system and collaboration to end this pandemic and to avoid that the next disease outbreak becomes a pandemic. 4. We call on the Bank to be proactive in strengthening developing countries capacity to prepare for, prevent, respond to, and mitigate future health emergencies. …together with the immediate urgency of tackling climate change 5. The recent IPCC report makes clear the immediate urgency of tackling climate change to avoid disastrous consequences. The just released World Bank Groundswell report on climate migration only serves to underscore the extent to which people and societies will be impacted. 6. Tackling climate change requires action now. Putting a price on carbon is essential as well as delivering on the yet to be met $100 billion per year climate finance promised in 2009. Strong leadership must be shown by the Bank, and the Nordic-Baltic countries call for: i. The Bank to focus beyond the provision of direct financing towards targeting broader development impact by catalyzing additional private and domestic resources, aligned with the Paris Agreement. As part of this, strengthen efforts to mobilise private investments for adaptation, especially in countries most vulnerable to the impacts of climate change. ii. A strong implementation plan and climate scorecard, with specific, measurable and time-bound indicators, for the recently launched World Bank Group Climate Change Action Plan. iii. Increased transparency regarding the development of the methodology to fully align the Bank’s operations with the Paris Agreement by 2023, before it is being presented at COP26 . The methodology must be based on objective and science-based criteria for assessing alignment and give clarity on Paris alignment of financial intermediaries. iv. The Bank to take on a transformative role in incentivizing and supporting countries so that their Nationally Determined Contributions are in line with the 1,5-degree Celsius and net-zero by mid-century targets, and are accompanied by Long-term strategies that outline science-based pathways

FAQs

What is the statement’s top priority regarding COVID-19?

Ending the COVID-19 pandemic is described as the most pressing priority, with urgency emphasized because the pandemic is far from over.

How does the statement propose accelerating vaccination efforts for developing countries?

It welcomes collaboration between the Bank and COVAX to accelerate vaccine supply and urges continued leadership in financing and implementing global vaccination campaigns.

What climate-related actions does the statement call for?

It calls for immediate climate action, including pricing carbon, delivering unmet climate finance commitments, and implementing Paris Agreement-aligned plans such as measurable indicators and strengthened transparency.

Jul 19, 2026

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