WASHINGTON, April 13, 2023 – Today, World Bank Group President David Malpass met with Finance Minister Shunichi Suzuki of Japan.
President Malpass reiterated the World Bank Group’s strong support for Japan’s work on global health, Ukraine, and non-fragmented development assistance, which are well aligned with the World Bank Group efforts. President Malpass expressed appreciation for Japan’s contribution of $5.5 billion to the World Bank’s financing support mobilization to Ukraine. President Malpass invited Japan’s support for IFC’s proposed Economic Resilience Action (ERA) Program for Ukraine. Minister Suzuki described Japan’s recent law to bolster the Japan Bank for International Cooperation’s (JBIC) ability to provide additional support to Ukraine’s private sector.
President Malpass and Minister Suzuki discussed the urgency of accelerating debt restructurings for developing countries, the Global Sovereign Debt Roundtable, and positive movement in Sri Lanka and Ghana. President Malpass underlined that the WBG is looking forward to working closely with Japan on debt issues, including debt reconciliation.
In their discussion on the World Bank Group Evolution Roadmap, President Malpass expressed appreciation for Japan’s support of the ongoing process at the Board. President Malpass and Minister Suzuki reflected on yesterday’s 35th anniversary of MIGA’s founding, noting that Japan was instrumental in the agency’s creation. MIGA recently celebrated the signing of its 1,000th project.