Path of commodity prices depends on pace of recovery and containment of COVID-19
WASHINGTON, April 20, 2021 – Commodity prices continued their recovery in the first quarter of 2021 and are expected to remain close to current levels throughout the year, lifted by the global economic rebound and improved growth prospects, according to the World Bank’s semi-annual Commodity Markets Outlook.
Financing for the poorest countries is on grant or highly concessional terms
WASHINGTON, April 20, 2021— The World Bank announced today that it has reached $2 billion in approved financing for the purchase and distribution of COVID-19 vaccines for 17 developing countries. This financing is part of the $12 billion envelope over 24 months for developing countries to acquire and deploy vaccines and strengthen their vaccination systems. For poorer countries financing is on grant or highly concessional terms. The Bank expects to support 50 countries with $4 billion financing for COVID-19 vaccines by mid-year.
I am grateful for the kind invitation to address the participants in the World Bank Group and 
International Monetary Fund 2021 Spring Meetings by means of this letter, which I have entrusted to Cardinal Peter Turkson, Prefect of the Holy See’s Dicastery for Promoting Integral Human Development.
Everyone should be able to live a sustainable life on a healthy planet. But the last six years have been the hottest on record. Record-breaking wildfires, droughts, floods and hurricanes have taken lives, damaged homes, hospitals and businesses. Meanwhile, COVID-19 took a heavy health and economic toll and pushed millions into extreme poverty.
The rollout of COVID-19 vaccines in developing countries is critical to protecting lives, building human capital, and stimulating economic recovery. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further.This event begins with voices of youth from around the world reflecting on the impact of the pandemic and their hopes for a speedy recovery with a return to school, friends, and family.World Bank Group President David Malpass then describes what vaccines mean for the world, what needs to be done to accelerate production and ensure safe and effective distribution to developing countries, and the importance of collaboration amongst all stakeholders for a sustainable and inclusive recovery
Working toward a green, resilient, and inclusive recovery 
At the close of the 2021 Spring Meetings, the Development Committee stressed that strong international coordination is urgently needed to contain the impacts of the COVID-19 pandemic, resume progress toward development goals, and lay the groundwork for green, resilient, and inclusive development.
About the Event: LINK
The rollout of COVID-19 vaccines in developing countries is critical to protecting lives, building human capital, and stimulating economic recovery. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further. Ensuring developing countries can access, as well as safely distribute vaccines, calls for strong partnership and cooperation at the national, regional & global levels. This event will explore:
Like Hydra, the many-headed monster of Greek myth, COVID-19 is proving hard to suppress even a year after the first case was confirmed in Wuhan.
But the longer-term impact of COVID on the region will depend less on the virus than on policy decisions and how governments respond.
I would like to provide another update on some of the work underway at the World Bank Group 
to address the COVID-19 pandemic and other significant development challenges.
The pandemic is hitting developing countries hard, and the inequality of that impact is clear. It threatens to push over 100 million people into extreme poverty and is exacerbating inequality throughout the world. The negative impact on health and education may last decades—80 million children are missing out on essential vaccinations and over a billion are out of school.
Netherlands for the World Bank 
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