[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111326-en":3,"doc-seo-111326-105":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},111326,4398048949847,"Eliana","https://ap-avatar.wpscdn.com/avatar/400002536579ef2da7f?_k=1778318612642679267",8,"Research & Report","Statement by H.E. Mehmet Şimşek at the 109th Meeting of the Development Committee - April 19, 2024","Statement by H.E. Mehmet Şimşek to the Development Committee outlines the global slowdown driven by tight monetary policies, restrictive financial conditions, weakening trade, and escalating vulnerabilities in developing countries. It highlights worsening poverty, inequality, and constrained policy space under rising debt, climate risks, and geopolitical tensions, including conflicts in Ukraine and Gaza. The statement supports World Bank Group efforts to maximize development impact through coordinated actions across WB, IFC, and MIGA, emphasizing private-sector mobilization and implementation of the new World Bank Group playbook, alongside commitments on fragile settings and climate-related financing.","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 NINTH MEETING WASHINGTON, DC – APRIL 19, 2024  \nDC/S/2024-0021 April 19, 2024  \nStatement by  \nH.E. Mehmet Şimşek Minister of Treasury and Finance  \nTürkiye  \nOn behalf of Austria, Belgium, Czech Republic, Hungary, Kosovo, Luxembourg, Slovak Republic, Slovenia, and Türkiye  \nStatement by  \nH.E. Mehmet Şimşek  \nMinister of Treasury and Finance  \nTürkiye  \nOn behalf of Austria, Belgium, Czech Republic, Hungary,  \nKosovo, Luxembourg, Slovak Republic, Slovenia, and Türkiye  \n109th Meeting of the Development Committee  \nApril 19, 2024  \nWashington, DC  \nIn the footsteps of the numerous shocks over the past years, global growth is currently facing a slowdown attributed to several factors, including the impact of tight monetary policies, restrictive financial conditions, and the deterioration of global trade. Growth is set to remain below pre-pandemic levels. The outlook for developing countries remains bleak, with increased risks stemming from climate change, debt burdens and geopolitical tensions. The multiple shocks hit the most vulnerable populations the hardest, which resulted in stark reversals of development progress, putting achievement of the Sustainable Development Goals (SDGs) further out of reach. Many emerging economies are now facing higher poverty and inequality levels and dwindling job prospects, especially for women and youth, while their policy space is often limited by significant debt burdens. The poorest struggle with access to food and nutrition security, clean water, and energy, as well as to basic services including healthcare, education, and housing. Addressing these challenges remains fundamental to eradicating poverty on a livable planet.  \nGlobal development continues to be negatively impacted by geopolitical events. Russia’s unprovoked and unjustified full-scale military aggression against Ukraine, which has already lasted for over 2 years, continues to destroy Ukraine and its people while also negatively impacting neighboring countries and global development prospects through increased food and nutrition insecurity and disruptions of value chains. We strongly condemn Russia’s invasion, and we remain supportive of Ukraine’s sovereignty within its internationally recognized borders. We call for an end of Russia’s aggression against Ukraine which would give way to lasting peace. Also, the war in Gaza led to the tragic loss of lives, significant damages to critical infrastructure and a large number of displaced people who face severe food and nutrition insecurity and have very limited access to basic services. The risk of regional spillovers further affects development prospects. We express our appreciation for the World Bank Group (WBG) for its swift response in providing humanitarian aid in cooperation with UN agencies during the ongoing conflict in Gaza.  \nAgainst this challenging background, we strongly support the WBG’s efforts to maximize its development impact. The coordinated actions among the World Bank (WB), IFC and MIGA to assist the most affected countries and vulnerable citizens in recent years, combined with the joint efforts for a new strategic approach to address present and future challenges, are true examples of acting as a One WBG. We take note of the record commitment and disbursement levels of the World Bank (WB) in 2023 while positively acknowledging the record share of commitments made to countries in Fragile and Conflict Settings (FCS) . Given constrained public finances, we emphasize the importance to work closely together with the private sector to achieve the SDGs. In this context, we value the rapidly increasing portfolio of IFC and the ambitious targets set for the next fiscal year, which puts IFC on a trajectory to exceed the 2030 Cap","cbCaisByD0I1xjak","https://ap.wps.com/l/cbCaisByD0I1xjak","pdf",170523,1,4,"English","en",105,"# Development challenges and global outlook\n## Debt, fragility, climate and vulnerable populations\n## Geopolitical impacts: Ukraine and Gaza\n# World Bank Group response and One WBG approach\n## Coordination across WB, IFC and MIGA\n## Focus on fragile and conflict settings and climate finance\n# World Bank Group playbook evolution\n## Mission, financial capacity and implementation priorities","[{\"question\":\"What main factors are cited for the current global growth slowdown?\",\"answer\":\"The statement links the slowdown to tight monetary policies, restrictive financial conditions, and deterioration of global trade.\"},{\"question\":\"How does the statement describe the situation of developing countries and vulnerable groups?\",\"answer\":\"It emphasizes bleak prospects, increased risks from climate change, debt burdens, and geopolitical tensions, with heightened poverty and inequality and limited access to food, nutrition security, clean water, energy, and basic services.\"},{\"question\":\"What does the statement call for regarding the World Bank Group’s approach?\",\"answer\":\"It supports coordinated efforts by the World Bank, IFC, and MIGA to maximize development impact, work closely with the private sector to achieve the SDGs, and align portfolio growth with greater and more sustainable 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main factors are cited for the current global growth slowdown?","Question",{"text":73,"@type":74},"The statement links the slowdown to tight monetary policies, restrictive financial conditions, and deterioration of global trade.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"How does the statement describe the situation of developing countries and vulnerable groups?",{"text":78,"@type":74},"It emphasizes bleak prospects, increased risks from climate change, debt burdens, and geopolitical tensions, with heightened poverty and inequality and limited access to food, nutrition security, clean water, energy, and basic services.",{"name":80,"@type":71,"acceptedAnswer":81},"What does the statement call for regarding the World Bank Group’s approach?",{"text":82,"@type":74},"It supports coordinated efforts by the World Bank, IFC, and MIGA to maximize development impact, work closely with the private sector to achieve the SDGs, and align portfolio growth with greater and more sustainable 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