Bengaluru, February 24, 2023 – Today, World Bank Group President David Malpass met with Giancarlo Giorgetti, Minister of the Economy and Finance of Italy.
President Malpass and Minister Giorgetti discussed the vast and ongoing needs in Ukraine due to Russia’s invasion. President Malpass shared that, as of today, the World Bank has mobilized $20.6 billion, of which $18.5 billion has already been disbursed. The funding supports the continuation of essential government services including pensions, wages for hospital workers, government and school employees and social programs for the vulnerable.
President Malpass and Minister Giorgetti discussed growth policies, including Europe’s energy realignment, opportunities for regional integration, and infrastructure challenges.
Discussing debt transparency and sustainability in developing countries, President Malpass thanked Minister Giorgetti for Italy’s strong advocacy on the need for successful debt restructurings and emphasized the urgency to find a path forward given the growing number of countries in debt distress.
President Malpass and Minister Giorgetti also discussed migration and the severe challenges of weapons flows through North Africa. President Malpass noted that the World Bank’s upcoming World Development Report 2023 focuses on migration and offers a practical set of recommendations for policy makers.