[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109979-en":3,"doc-seo-109979-105":31,"detail-sidebar-cat-0-en-105":92},{"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":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109979,1099514068365,"Aurelia","https://ap-avatar.wpscdn.com/avatar/10000253d8d9f28188e?_k=1776742907772140068",8,"Research & Report","World Bank Group 2020 Annual Meetings - David Malpass Address - COVID-19 Update","The address by David Malpass to the World Bank Group’s Boards of Governors provides an update on achievements since the previous Annual Meetings, centering on the COVID-19 response and advances in debt transparency. It outlines the pandemic’s deep economic and social impacts, highlights intensified efforts to reduce poverty and inequality, and describes actions to protect human capital through health and education support. It also addresses debt burdens, urging relief extensions and broader transparency to enable sustainable investment and resilience for the poorest countries.","Public Disclosure Authorized Public Disclosure Authorized  \nOctober 15, 2020  \nAddress by DAVID MALPASS, President of the World Bank Group, to the Boards of Governors of the World Bank Group  \nIntroduction  \nChairman Addison, thank you for your remarks. And thank you, Governors, Kristalina, and distinguished guests for joining us today. I wanted to provide an update on what the World Bank Group (WBG) has accomplished since last year’s Annual Meetings, particularly our response to COVID-19 and progress made on debt transparency.  \nThe COVID-19 pandemic’s toll has been enormous, and people in the poorest countries are likely to suffer the longest and hardest. The crisis has knocked more economies into simultaneous recession than at any time since 1870, and it could lead to a lost decade characterized by weak growth, a collapse in many health and education systems, and anew round of sovereign-debt crises.  \nIn response, our approach at the World Bank Group has been comprehensive. We are focused on saving lives, protecting the poor and vulnerable, working toward sustainable business growth, and rebuilding in better ways.  \nToday, I’m going to focus on the four most urgent aspects of this work.  \nTopic 1: Poverty and Inequality  \nFirst, we need to redouble our efforts to alleviate poverty and inequality. COVID-19 has dealt an unprecedented setback to the global effort to end extreme poverty, raise median incomes, and create shared prosperity.  \nThe global economy is expected to partly recover in 2021 from its worst recession since World War II. Although it is growing again, global activity is expected to remain well below its pre-pandemic trend for a prolonged period. Developments thus far point to shallower recessions in advanced economies and a more robust rebound in China than previous estimates. However, in the majority of other emerging and developing economies, the recessions in 2020 have turned out to be much deeper—and recoveries have been more delayed—than June estimates, largely reflecting more damaging economic disruptions from the pandemic.  \nThe World Bank’s new poverty projections suggest that by 2021 an additional 110 to 150 million people will have fallen into extreme poverty, living on less than $1.90 per day. COVID-19 and its associated economic crisis, compounded by the effects of armed conflict and climate changes, are reversing hard-won gains in poverty reduction, ending more than two decades of continuous progress. Poverty is expected to rise in 2020 for the first time since 1998. It’s clear that we face a unique pandemic of inequality: the downturn is broader and deeper, and it has hit informal sector workers and the poor—especially women and children—the hardest.  \nThe World Bank Group took broad, fast action early, and we provided large net positive flows to the world’s poorest countries. We are making good progress toward our announced 15-month target of $160 billion in surge financing, much of it to the poorest countries. Over $50 billion of that is in the form of grants or low-rate, long-maturity loans—providing key resources to maintain or expand health care systems and social safety nets. Thanks to the generous support of IDA donors to IDA-19 in December, and to the completion of the IBRD and IFC capital increase packages in March, this size of response is consistent with the financial sustainability frameworks agreed for our institutions.  \nTopic 2: Human Capital  \nSecond, we need to take note of the loss of human capital underway and what can be done to restore it. Before the pandemic, developing countries were making significant progress and, notably, starting to close gender gaps.  \nDue to the outbreak, more than 1.6 billion children in developing countries have been out of school, implying a potential loss of as much as $10 trillion in lifetime earnings for these students. Gender-based violence is on the rise. Child mortality rates are also likely to rise significantly.  \nThese setbacks imply a lo","cbCaij00OT0annj7","https://ap.wps.com/l/cbCaij00OT0annj7","pdf",342024,3,1,7,"English","en",105,"# Introduction\n# Topic 1: Poverty and Inequality\n## COVID-19 impacts on poverty and inequality\n## World Bank Group surge financing and support\n# Topic 2: Human Capital\n## Health and education support\n## Vaccines, therapeutics, and remote learning\n# Topic 3: Debt Burdens\n## Debt relief actions and transparency","[{\"question\":\"What are the main areas David Malpass says the World Bank Group will focus on during the address?\",\"answer\":\"He highlights four urgent aspects: poverty and inequality, human capital, and debt burdens, with related emphasis on COVID-19 response and rebuilding efforts.\"},{\"question\":\"How does the address describe COVID-19’s effect on poverty and inequality?\",\"answer\":\"It states that the pandemic has reversed gains in poverty reduction and worsened inequality, hitting informal sector workers and the poor—especially women and children—hardest.\"},{\"question\":\"What debt-related actions does the address mention for the poorest countries?\",\"answer\":\"It notes a G20 proposal that suspended debt-service collections for the poorest countries starting May 1, with 44 countries receiving debt service relief, and calls for extending relief through the end of 2021.\"}]","World Bank Group 2020 Annual Meetings - David Malpass Address - COVID-19 Update | PDF",1784483312,18,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"world-bank-group-2020-annual-meetings-david-malpass-address-covid-19-update","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":53},"https://docshare.wps.com/document/world-bank-group-2020-annual-meetings-david-malpass-address-covid-19-update/109979/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-31","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What are the main areas David Malpass says the World Bank Group will focus on during the address?","Question",{"text":76,"@type":77},"He highlights four urgent aspects: poverty and inequality, human capital, and debt burdens, with related emphasis on COVID-19 response and rebuilding efforts.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How does the address describe COVID-19’s effect on poverty and inequality?",{"text":81,"@type":77},"It states that the pandemic has reversed gains in poverty reduction and worsened inequality, hitting informal sector workers and the poor—especially women and children—hardest.",{"name":83,"@type":74,"acceptedAnswer":84},"What debt-related actions does the address mention for the poorest countries?",{"text":85,"@type":77},"It notes a G20 proposal that suspended debt-service collections for the poorest countries starting May 1, with 44 countries receiving debt service relief, and calls for extending relief through the end of 2021.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},19,"General","general"]