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2020 Annual Meetings

The Development Committee commended the World Bank Group and IMF for the speed and scale of their COVID-19 response, while urging continued work with member countries, the public and private sectors, local and bilateral development partners, and other organizations.

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World Bank Group President David Malpass provides an update on what the Bank Group has accomplished since last year’s Annual Meetings, particularly the COVID-19 response and progress made on debt transparency.

World Bank Group President David Malpass
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to end extreme poverty and promote shared prosperity in a sustainable way

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For almost 25 years, extreme poverty was steadily declining. Now, for the first time in a generation, the quest to end poverty has suffered its worst setback. This setback is largely due to major challenges — COVID 19, conflict, and climate change — facing all countries, but in particular those with large poor populations. The increase in extreme poverty from 2019 to 2020 is projected to be larger than any time since the World Bank started tracking poverty globally in a consistent manner. While COVID-19 is a new obstacle, conflicts and climate change have been increasing extreme poverty for years in parts of the world. Explore Data

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