- Hello and welcome everyone.
- It's an absolute pleasure to be back here in,
in the World Bank.
- Hi everyone.
- Excellencies
- Friends.
- Thank you for having me.
- I'm enormously grateful to be invited to join you for this
year's annual meetings.
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- In this time of upheaval,
the question in front of the development community is what
should we do to avoid a lost decade and boost growth
that's both inclusive and sustainable?
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- We want to reduce by 51% all our
greenhouse houses emissions by 2030.
- The other barrier to the economic growth for low-income countries
is unsustainable high levels of debt. Again, they cannot really,
you know, finance their programs.
- You believe that trade can really be
a powerful catalyst and
force for growth and that social economic development and
poverty reduction.
- Countries, which were better integrated in
the world market, as well as having being participants of
the global value chain recovered much more quickly.
- Where there are places that private capital can play.
It's important for us to step in and play a role.
- My vision for a successful climate action is where the
movement is led by the community by the young people,
but it's supported by the government,
by the donors and everyone in the society.
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- Now let's take a look at the latest data.
- The three lines need to go to zero.
So how do we make that happen?
- Now, look how that increase was mirrored by
a fall in extreme poverty over the same period.
- New World Bank Data released today also shows that the
external debt owed by low-income countries rose to a record
860 billion US dollars in 2020.
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- Welcome to ending the pandemic,
the road to an inclusive recovery.
I'm Becky Anderson live from CNN's broadcasting hub.
- You know,
it's very disappointing that it's taking so long for the
world to really commit.
- There’s a two-track rebound: those countries that have
been able to implement strong fiscal stimulus,
accommodative monetary policy,
as well as access to vaccines who are rebounding very well.
And those without access and who have very little fiscal
space lagging behind.
- With global threats,
now surpassing those we saw in the Second World War.
We simply must seize the current window of opportunity
to re-imagine our global systems.
- The multilateral development banks,
as this group knows better than anyone,
play a leading role here.
They help emerging economies prioritize climate investments.
- Climate is really effecting all our lives.
And so we need to think not in
an isolated way about climate.
We need to think more globally.
And what we have been saying is let's look at this
comprehensively.
And first
we want to understand the drivers of this as well,
but not in isolation
but in relation to development.
- We need to effectively double spending investment
on energy infrastructure for decades.
So we're talking an extra two,
two and a half trillion dollars of investment in energy
infrastructure alone.
- Big question ahead.
Big challenge is moving forward
to make sure
that the COVID crisis doesn't morph into a financial crisis,
such a negative outcome would,
would be a big headwind to a green inclusive recovery,
which is what we all want.
- The challenge for us has been to secure supply because
Africa made the mistake of
seeding manufacturing of vaccines
to other regions of the world.
And this is the thing that we have to fix.
That vaccines must be manufactured on the African soil.
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- I'm a big fan of blockchain.
I think blockchain in trade financing will make a big
difference for a lot of countries.
Why?
Because people,
once they want to try to finance trade in remote markets
that they don't know very well.
They're not sure that things will be going the way they are
used to.
So having blockchain with secure the transaction at every step
and make it much more secure and give much more confident of
banks to, to invest in trade financing.
- How do we prepare for future possible health emergencies,
you'll find that regional response is better because you can
quickly be able to share data.
You can quickly be able to share experts.
You can quickly be able to share resources.
- We also need to suck carbon pollution back out of the
atmosphere.
We have to both reduce emissions and capture carbon.
And if we do earth will come back into balance.
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- These efforts require leaders to be ambitious
for the prosperity of
people and they require focus and scale throughout our
development work.
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- I want you to hear young people's voices
- On how we can create a more sustainable future together.
- In the future
more international trade will allow me to expand my business
across Africa.
- Our strength truly lies in our human capital.
- What we need is more accessibility to education.
Getting vaccinated means
I get to protect myself and my family.
- Means we can have these streets
full of tourists. Again.
- Show us what real action looks like.