WASHINGTON, October 14, 2022 – Today, World Bank Group President David Malpass met with Svenja Schulze, German Federal Minister for Economic Cooperation and Development and Germany’s Governor of the World Bank Group.
President Malpass presented Minister Schulze with an update on World Bank Group (WBG) support to Ukraine, noting that World Bank disbursements have already exceeded $11 billion with more to come. President Malpass emphasized the need for close coordination of efforts by development partners to maximize areas of strength in Ukraine’s reconstruction process.
President Malpass was glad to hear Minister Schulze’s thoughts on the importance of social protection efforts and was pleased to highlight the WBG’s commitment to supporting the Social Protection Accelerator.
President Malpass stressed that unsustainable debt burdens are severely limiting the fiscal scape in developing countries as they work to tackle poverty and climate change. President Malpass and Minister Schulze exchanged views on the G20 Common Framework and ways to accelerate implementation. President Malpass and Minister Schulze also held good discussions on food security, during which President Malpass thanked Minister Schulze for her strong leadership on the Global Alliance for Food Security (GAFS), co-convened by the Germany G7 Presidency and WBG.
President Malpass highlighted to Minister Schulze actions being done by the WBG to integrate climate and development and briefed the Minister on the WBG’s new Scaling Climate Action by Limiting Emissions (SCALE) umbrella trust fund. President Malpass was pleased to share with Minister Schulze his upcoming attendance at COP27, during which the WBG aims to formally launch SCALE.