At a time when we face enormous challenges brought on by the COVID-19 pandemic, it is heartening to see the world mobilizing as never before to tackle the looming crisis of global warming. The international development community is also stepping up. In 2020, the World Bank Group reached its highest ever level of climate financing, at $21.4 billion, and we recently announced our plan to align all-new World Bank operations with the Paris Agreement by July 2023.
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.
Key Green Transitions: How Systems Are Changing for People and Planet
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.
COVID-19: Vaccines for Developing Countries
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
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:
Of the more than 70.8 million forcibly displaced persons worldwide, around 41 million are people who have been displaced from their homes but remain in their home country and nearly 25.9 million are refugees who have fled their countries.
One surprising fact:
Published on http://www.worldbank.org, June 19, 2019
- Resilient infrastructure is about people. Particularly in developing countries, infrastructure disruptions are an everyday concern that affects people’s well-being, economic prospects, and quality of life.
- There is a significant economic opportunity from investing in resilient infrastructure: the overall net benefit of doing so in developing countries would be $4.2 trillion over the lifetime of new infrastructure.
- For infrastructure investors, governments, development banks and the private sector the message is clear: rather than just spending more, also spend better
Infrastructure is at the heart of lives and livelihoods. It can enable schools and hospitals, businesses and industry, and access to jobs and prosperity. In developing countries, however, disruptions to infrastructure are an everyday concern, reducing opportunities for employment, hampering health and education, and limiting economic growth.
In low and middle-income countries, direct damages from natural hazards to power generation and transport alone cost $18 billion a year, cutting into the already scarce budget of road agencies and power utilities. But the main impact of natural shocks on infrastructure is through the disruptions they impose on people and communities, for instance, businesses unable to keep factories running or use the internet to take orders and process payments; or on the households that don’t have the water they need to prepare meals or on people unable to go to work, send children to school, or get to a hospital.