On October 17 each year, the world marks the International Day for the Eradication of Poverty, 
colloquially known as End Poverty Day. It’s an important date given major setbacks registered recently across the globe in the fight against poverty, and the ever-growing challenges facing humanity.
Yearly Archives: 2021
Growth in a Time of Crisis: What’s Ahead for Developing Economies
The opening public event of this year’s Annual Meetings – Growth in a Time of Crisis: What’s Next for Developing Economies – delved into questions like these:
- How can countries build back to a sustainable, resilient, and inclusive economic recovery while also investing in their people?
- What are the fundamental barriers to sustainable and inclusive growth in low and middle-income countries and fragile and conflict-affected settings, and what does the future of growth look like?
- What types of policies are important to support inclusive growth for vulnerable populations? How can digital technology help ensure inclusion?
- What’s needed to support private investment, especially small and medium enterprises, and create jobs in developing countries?
- What role can central banks play to help spur job creation and investment?
Making Climate Action Count: Turning Ambition Into Reality
Two weeks ahead of a pivotal meeting on climate change (COP26), the Annual Meetings event Making Climate Action Count: Turning Ambition Into Reality brought together global leaders, prominent climate advocates and climate champions from several countries to discuss what the world needs to do to meet the goals of the Paris Agreement. Followed on social media with the hashtag #Voices4Climate, the event also took the audience on a virtual journey around the globe, showing how countries from Vietnam to Brazil are working towards a more sustainable and resilient future.
Trade to the Rescue: Unleashing Global Trade to Support Economic Growth
Expanding trade flows can be part of the solutions to global challenges, when accompanied by the right policies. World Bank President David Malpass and WTO Director General Ngozi Onkonjo-Iweala discussed how global trade has limited the extend of the current global recession and laid out the practical steps countries could take to spread the benefits of trade more widely. Trade costs, on average, are equal to a 114 percent tariff on imported goods in developing countries. Much of that burden on consumers is the result of inefficient border procedures and poor transportation infrastructure. Trade facilitation reforms and investment in infrastructure could give a big boost to trade within regions. Betty Maina, Kenya’s Minister of Industrialization, Trade and Enterprise Development, spoke of how trade liberalization is a central part of her country’s aspirations for incomes and development.
“Trade can be a powerful catalyst for growth and social economic development and poverty reduction, particularly if we implement it with the poor in mind,” Maina said.
Leaders from the public and private sectors discussed the importance of investments in logistics and expanding trade finance that could strengthen the contribution of trade to economic recovery, and noted the ways that trade could help developing countries mitigate and adapt to climate change.
Ensuring a Strong Recovery for Developing Countries
The global economy is experiencing an uneven recovery, with the risk that it will worsen 
inequality and leave low- and middle-income countries behind. The path of the COVID-19 pandemic remains uncertain, with obstacles to vaccination in many countries. Developing economies face challenges that could slow their recovery for years to come. To help, the World Bank Group has mounted the largest crisis response in its history, and it is uniquely positioned to help ensure that all countries can participate in a green, resilient, and inclusive return to stability and growth.
Annual Meetings 2021: Civil Society Townhall with World Bank Group President David Malpass
How is the World Bank Group focusing on resilient recovery in the post-pandemic era? Every year during the Annual Meetings, the Civil Society Townhall provides an opportunity for civil society representatives to dialogue with the President and Bank leadership.
In the first virtual Civil Society Townhall held on October 12, World Bank Group President David Malpass will discuss the Bank’s efforts to protect human capital, address countries’ excessive debt burdens, and facilitate an inclusive, resilient recovery from COVID-19.
Ending the Pandemic: The Road to an Inclusive Recovery
Join us for the remainder of the week for more live events, including discussions on Making Climate Action Count and Trade to the Rescue. Join His Royal Highness, the Prince of Wales, Janet Yellen, Ngozi Okonjo-Iweala, and many other experts as we continue with our 2021 World Bank Group/IMF Annual Meetings. Visit World Bank Live to join in the conversation or watch our previous sessions – where you can see discussions on ending the pandemic and promoting growth in a time of crisis, watch the Civil Society Town Hall or take advantage of a host of other resources available on demand.
2021 Annual Meetings Opening Press Conference
World Bank Group President David Malpass addressed the press and provided updates on the World Bank Group’s efforts to rapidly scale-up efforts to help countries acquire and deploy vaccines, talked about assisting countries in accelerating an end to the pandemic, and explored options for building a green, resilient, and inclusive recovery.
REPLAY
Ending the Pandemic: The Road to an Inclusive Recovery
SUMMARY
The Multilateral Leaders Task Force led by the heads of the IMF, World Bank, World Health Organization, and World Trade Organization convened to discuss accelerating global access to vaccines and finding ways to support an inclusive global recovery.
SPEECH: Development in a Time of Upheaval
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Netherlands for the World Bank 
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