[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110328-en":3,"doc-seo-110328-105":29,"detail-sidebar-cat-0-en-105":90},{"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":20,"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},110328,4398048949847,"Eliana","https://ap-avatar.wpscdn.com/avatar/400002536579ef2da7f?_k=1778318612642679267",8,"Research & Report","Statement by H.E. Mohammed A. Aljadaan - 106th Meeting of the Development Committee - October 14, 2022","Statement by H.E. Mohammed A. Aljadaan, Minister of Finance of the Kingdom of Saudi Arabia, delivered at the 106th Development Committee meeting on October 14, 2022. The address describes how overlapping crises are delaying development progress and stresses the need for renewed multilateral cooperation and resource selectivity consistent with the World Bank Group’s Twin Goals and the SDGs. It highlights Saudi Arabia’s bilateral support, advocacy for debt vulnerability relief, and priorities across development and climate financing, including fair climate responsibilities, expanded adaptation finance, targeted subsidy reform, and support for CCS technologies.","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 SIXTH MEETING WASHINGTON, DC – OCTOBER 14, 2022  \nDC/S/2022-0067 October 14, 2022  \nStatement by  \nH.E. Mohammed A. Aljadaan Minister of Finance  \nThe Kingdom of Saudi Arabia  \nStatement by  \nH.E. Mohammed A. Aljadaan  \nMinister of Finance  \nThe Kingdom of Saudi Arabia  \n106th Meeting of the Development Committee  \nOctober 14, 2022  \nWashington, DC  \nWe are convening at a time when the world is beset with multiple overlapping crises not seen in decades. Geopolitical tensions, food security crisis, lingering effects of the COVID-19 pandemic, persistent high inflation and impact of rising interest rates on the cost and flow of capital to developing countries, and the looming threat of a global recession have all set back hard-earned development gains and posed unprecedented challenges to many countries. Responding effectively to these shocks will require international collaboration and cooperation, with a renewed spirit of multilateralism.  \nWith its rich knowledge, experience, policy toolkit, and financial resources, the World Bank Group (WBG) is well-placed to lean forward and help client countries. It is important to keep an eye on WBG’s Twin Goals to eradicate extreme poverty and boost shared prosperity by 2030. Therefore, given the scarcity of capital at its disposal, selectivity is key to channel resources where they will make the most development impact consistent with the Twin Goals and the SDGs. Other competing priorities that involve trade-offs with our core objectives should be revisited and reconsidered.  \nSaudi Arabia appreciates the efforts ofthe WBG and IMF to stretch their lending capacity to support client countries as they manage the ongoing multiple crises. On its part, Saudi Arabia has provided bilateral financial support amounting to USD 12.7 billion to countries most in need since the last Annual Meetings, equivalent to about 103 percent of our share of the recent SDR allocation. More broadly, Saudi Arabia continues to strongly support the implementation of the G20 Common Framework (CF) to help eligible countries address rising debt vulnerabilities. And it remains committed to support international efforts to restore peace and stability which is necessary for a stable and prosperous global economy.  \n1. DEVELOPMENT AND CLIMATE FINANCING  \nClimate change is indeed one of the challenges of our lifetime and must be tackled collectively.  \nHowever, climate change and climate finance must be seen through the lens of international agreements. The essence of these agreements is the principle of common but differentiated responsibilities and respective capabilities, which has two important implications. One is that countries should contribute to climate finance proportionate to their contributions to historic of GHG emissions. The other is that the focus of climate action should be on countries that contribute significantly to the flow of GHG emissions. The fact that since LICs and LMICs contribute just 14 percent of global emissions should not be lost when advising countries on how they should deliver on their NDCs. Carbon taxes would unfairly burden the poor and most vulnerable and are inconsistent with the affordability element of SDG7 .  \nGiven the staggering needs, every possible source of climate finance needs tobe harnessed and tapped.  \nBilateral donors, large philanthropic foundations, and private investors all need to make meaningful contributions. The role ofMDBs in my view is to maximize climate co-benefits through their development financing operations. I also believe that IFC can play stronger advocacy and promotional roles in the private climate finance space. Furthermore, considering the frequency and intensity of climate-triggered disasters, adaptation f","cbCaikdY3BNz4SWS","https://ap.wps.com/l/cbCaikdY3BNz4SWS","pdf",152902,1,4,"English","en",105,"# Development and Climate Financing\n## Climate finance principles and responsibility\n## Adaptation, subsidies, and CCS technology\n# Food and Energy Challenges\n## Food security action and collaboration\n## Food-energy nexus and SDG progress","[{\"question\":\"What major global challenges does the statement highlight?\",\"answer\":\"It cites overlapping crises including geopolitical tensions, food security problems, lingering effects of COVID-19, high inflation and rising interest rates, and the risk of a global recession that have set back development progress.\"},{\"question\":\"How does the statement frame climate financing responsibilities?\",\"answer\":\"It stresses that climate change agreements should follow common but differentiated responsibilities, meaning countries should contribute climate finance in proportion to historic GHG emissions and focus climate action on significant GHG emitters.\"},{\"question\":\"What approach does the statement recommend for subsidies and support?\",\"answer\":\"It calls for differentiating wasteful consumption subsidies from support targeted to the poor and vulnerable, endorsing cash transfers as a substitute, and avoiding fossil fuel subsidies in isolation by considering them within the full set of energy subsidies, including those supporting renewables.\"}]",1784484920,10,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"statement-by-he-mohammed-a-aljadaan-106th-meeting-of-the-development-committee-october-14-2022","",{"@graph":35,"@context":84},[36,52,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":21},"https://docshare.wps.com/document/statement-by-he-mohammed-a-aljadaan-106th-meeting-of-the-development-committee-october-14-2022/110328/",{"url":51,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":23,"description":14,"dateModified":60,"datePublished":61,"encodingFormat":59,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":40,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-22","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":20},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What major global challenges does the statement highlight?","Question",{"text":74,"@type":75},"It cites overlapping crises including geopolitical tensions, food security problems, lingering effects of COVID-19, high inflation and rising interest rates, and the risk of a global recession that have set back development progress.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does the statement frame climate financing responsibilities?",{"text":79,"@type":75},"It stresses that climate change agreements should follow common but differentiated responsibilities, meaning countries should contribute climate finance in proportion to historic GHG emissions and focus climate action on significant GHG emitters.",{"name":81,"@type":72,"acceptedAnswer":82},"What approach does the statement recommend for subsidies and support?",{"text":83,"@type":75},"It calls for differentiating wasteful consumption subsidies from support targeted to the poor and vulnerable, endorsing cash transfers as a 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