[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111319-en":3,"doc-seo-111319-105":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},111319,4810365810221,"Aurora","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","Statement by H.E. Mohammed Aljadaan - 109th Meeting of the Development Committee - April 19, 2024","Statement by H.E. Mohammed Aljadaan, Minister of Finance of the Kingdom of Saudi Arabia, delivered at the 109th Meeting of the Development Committee in Washington, DC on April 19, 2024. The statement assesses the global development landscape, noting risks from geopolitics, debt distress, high borrowing costs, and slippage on the SDGs. It highlights Saudi Arabia’s contributions to development and discusses the World Bank Group’s twin goals, shared prosperity priorities, and the need to operationalize the New Playbook with stronger, client-led actions and an evolved operating model.","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/2024-0011 April 19, 2024  \nStatement by  \nH.E. Mohammed Aljadaan Minister of Finance  \nThe Kingdom of Saudi Arabia  \nStatement by  \nH.E. Mohammed Aljadaan  \nMinister of Finance  \nThe Kingdom of Saudi Arabia  \n109th Meeting of the Development Committee  \nApril 19, 2024  \nWashington, DC  \nGlobal Development Landscape  \nThe global economy has demonstrated resilience, and a soft landing may be on the horizon. Recent signs of improvement in international manufacturing and goods trade are encouraging. Nonetheless, the downside risks posed by geopolitical tensions and uncertainties may impact the already slow recovery process. Debt distress continues to weigh on heavily indebted developing countries, and high interest rates would increase the cost of borrowing and deter investments and growth. That the SDGs are off-track is also a matter of concern. These risks add complexity to the development landscape and challenge the World Bank Group (WBG) institutions, especially IDA. The need for reinvigorated action is obvious. While I remain confident that the Bank has the opportunity and ability to up its game, it must remain vigilant and proactive in monitoring and helping countries manage the evolving developmental challenges.  \nFor its part, Saudi Arabia continues to bridge global development gaps and support countries in their development and humanitarian challenges, including contributing to every IDA replenishment since 1978, totaling USD 3.9 billion. More broadly, the Kingdom has provided approximately $243 billion in ODA to date, with around $34 billion contributed between 2018 and 2023 alone. This reflects the Kingdom’s unwavering commitment as a reliable development partner to the countries in need.  \nWBG Evolution, in General  \nThe WBG’s twin goals—to end extreme poverty by 2030 and boost shared prosperity on a livable planet—are central to the Bank Group’s development mandate and should remain so in the long term. Poverty eradication should continue to occupy a pivotal position in the evolution process to achieve this goal by 2030 despite growing challenges. Yet it should continue to attract significantly greater attention to the Bank’s poverty reduction strategies and actions.  \nShared prosperity and income inequality are two sides of the same coin. Hence, providing quality jobs for vulnerable and poorer communities and pursuing inclusive growth strategies are critical. A livable planet for all is at the forefront of shared prosperity—a livable planet free of man-made destruction, protecting both its ecosystem and biodiversity, and where the nexus of food, water, and energy is accessible and affordable to its people.  \nA number of global challenges intersect with development challenges. Management and the Board have done well to identify eight such challenges. The next step is to devise a clear approach on how these challenges could be best addressed, and how the World Bank, IFC, and MIGA can optimally work together as One WBG to pursue them. All agreed-upon global challenges should receive equal emphasis, an equitable allocation of resources, including concessional resources, and development-centric treatment of externalities. A “better Bank” would be demonstrably focused on client countries’ highest development priorities. A “bolder Bank” would demonstrate the willingness to take measured risks in responding to those priorities.  \nThe WBG evolution has both upside and downside cost implications, given the ambition and commitment to improve productivity and pursue operational efficiencies. It is important that one-time evolution costs do not become a trend and that budget anchors resume downward trajectories going forward.  \nEvolu","cbCaipH7lKP4gIYh","https://ap.wps.com/l/cbCaipH7lKP4gIYh","pdf",158932,1,4,"English","en",105,"# Global Development Landscape\n# WBG Evolution, in General\n# Evolution of the Operating Model\n## Energy access and SDG7 alignment\n## Climate finance and adaptation priorities","[{\"question\":\"What major risks affect the global development landscape mentioned in the statement?\",\"answer\":\"Geopolitical tensions and uncertainties, ongoing debt distress in heavily indebted developing countries, high interest rates raising borrowing costs, and concerns that the SDGs are off-track are highlighted as key risks.\"},{\"question\":\"How does Saudi Arabia describe its role in development support?\",\"answer\":\"Saudi Arabia states it has contributed to every IDA replenishment since 1978 (totaling USD 3.9 billion) and provided approximately $243 billion in ODA to date, including about $34 billion between 2018 and 2023.\"},{\"question\":\"What priorities does the statement emphasize for World Bank Group evolution and the operating model?\",\"answer\":\"It emphasizes keeping the twin goals central, giving more attention to poverty reduction, supporting inclusive growth and shared prosperity, strengthening client-led country partnerships, and advancing the New Playbook with judicious 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major risks affect the global development landscape mentioned in the statement?","Question",{"text":74,"@type":75},"Geopolitical tensions and uncertainties, ongoing debt distress in heavily indebted developing countries, high interest rates raising borrowing costs, and concerns that the SDGs are off-track are highlighted as key risks.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"How does Saudi Arabia describe its role in development support?",{"text":79,"@type":75},"Saudi Arabia states it has contributed to every IDA replenishment since 1978 (totaling USD 3.9 billion) and provided approximately $243 billion in ODA to date, including about $34 billion between 2018 and 2023.",{"name":81,"@type":72,"acceptedAnswer":82},"What priorities does the statement emphasize for World Bank Group evolution and the operating model?",{"text":83,"@type":75},"It emphasizes keeping the twin goals central, giving more attention to poverty reduction, supporting inclusive growth and shared 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