Message from the Vice President
Our world is facing unprecedented, overlapping crises stemming from the COVID-19 pandemic, conflict, and climate change. The pandemic has led to an increase in global poverty, disruptions in human capital accumulation, and an erosion of the fiscal space in many developing countries. More than two years into the pandemic, these already-stressed countries are now experiencing the global impact of the war in Ukraine. Compounding crises have led to supply chain disruptions that further threaten food and nutrition security and access to energy, competitiveness, and growth. All the while, climate change impacts continue to intensify, with natural disasters becoming more frequent and damaging to vulnerable countries.
Development Finance, World Bank Group