Russian delegation headed by Mr. Timur Maksimov, Deputy Governor for the Russian Federation, participated in the WBG and IMF Spring Meetings 2022

Deputy Minister of Finance of the Russian Federation and Deputy Governor for Russia at the World Bank Group institutions, Mr. Timur Maksimov, led the delegation that took part in the 105^th Meeting of the Development Committee on April 22, 2022.

An official written statement by the Deputy Prime Minister of the Russian Federation and the World Bank Governor Mr. Alexei Overchuk to the Development Committee is available via this link.

The items on the Development Committee Agenda included ‘Digitalization and Development’, ‘Making Debt Work for Development and Macroeconomic Stability’, as well as the ‘Response to Global Impacts of the War in Ukraine: A Proposed Roadmap’.

Mr. Maksimov agreed with the concern voiced in the Development Committee papers about increasing fragility on the global scale and its toll. He supported WBG’s assistance to fragile countries. However, he underlined the inconsistency that despite $1 bn being reserved in the IDA for Syria in the last three cycles, the institution has not been able to find a way to offer help to internally displaced Syrians for their basic needs or vaccines, even through UN institutions.

This year Russia commemorates 30 years since joining the WBG institutions. Deputy Governor Maksimov underscored that the partnership with the World Bank has been highly productive. Even though Russia has not contracted any new loans for years, it has made contributions to IDA and the trust funds that work across regions and sectors from energy to health, education, gender issues and digital agenda.

In his oral statement, Russian Deputy Governor reminded that the WBG institutions were conceived as a forum, where countries follow the non-political mandate under the Articles of Agreement and despite difference of opinions work together on the most difficult and pressing issues of global development. "It is the role that we hope the Group will continue to uphold in any present or future crises", - said Mr. Maksimov.

The evening before the Plenary Mr. Maksimov participated in the Development Committee Dinner. The dinner guests included Governors who arrived to participate in Spring Meetings in person, as well as Senior Management of the WBG and the IMF.