WASHINGTON, MAY 16, 2023 – 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 and Minister Schulze exchanged views on the challenging situation in Sudan and the importance of a swift return to peace in the country. President Malpass and Minister Schulze also spoke about increasing fragility and humanitarian needs of rapidly growing populations in the Sahel region and the World Bank’s increasing disbursements. President Malpass noted the World Bank Group’s strong support to Ukraine through budget support, investment operations to rebuild critical infrastructure, and analytical work and data collection through periodic Rapid Damage and Needs Assessments (RDNA).
President Malpass and Minister Schulze also discussed growing debt service payments in developing countries that crowd out spending on health, education, and climate. President Malpass highlighted the urgency of accelerating the implementation of the G20 Common Framework as well as finding pathways to effectively resolve unsustainable debt in middle income countries. President Malpass and Minister Schulze also exchanged views on the need for more transparency in debt contracts, stronger involvement by the private sector in sovereign debt restructurings, the priorities for the Global Sovereign Debt Roundtable, and more active engagement by the IMF and WBG to achieve debt restructurings and sustainability.
President Malpass and Minister Schulze also spoke about the collaboration between the World Bank Group and Germany on the Global Alliance for Food Security, the G20 Compact with Africa, the Global Shield Against Climate Risks, and addressing gender gaps and on the progress on the World Bank Group’s Evolution Roadmap. President Malpass and Minister Schulze exchanged views on social protection programs, especially large expansion of digital cash transfers during the COVID-19 pandemic and well as efforts under the Global Accelerator on Jobs and Social Protection.