Director of Operations
I have read the many reports that summarize the dire state of the climate and our planet’s worsening prospects. I know the hard statistics docum
enting rising temperatures, the increasing intensity of natural disasters and warmer seas. I have been meeting with representatives from developing countries who have one request:
For most children, turning 10 is an exciting moment. They’re learning more about the 
world and expanding their horizons. But too many children – more than half of all 10-year-olds in low- and middle-income countries – cannot read and understand a simple story. That is unacceptable.
When people talk about biodiversity, it is often through the lens of conservation and the
survival of animal and plant species. But the value drawn from a healthy biosphere is much more than that – it delivers a steady supply of food, water, jobs and livelihoods and helps to regulate climate.
Our oceans are overfished and polluted with plastic; 1 million plant and animal species (out of 8 million) face extinction within decades, according to the latest scientific assessments, and deforestation and soil degradation have reached epic levels.
STOCKHOLM, December 13, 2019 — A global coalition of development partners announced today their commitment to maintain momentum in the fight against extreme poverty, with $82 billion for the International Development Association (IDA), the World Bank’s fund for the poorest. The financing, which includes more than $53 billion for Africa, will help countries invest in the needs of their people, boost economic growth, and bolster resilience to climate shocks and natural disasters.
A few years ago, Binita Biswokarma’s life took a sharp turn for the worse.
With no skills, relatives, or farmland, the young woman from Kaski, a rural district in West Nepal, struggled to provide for her son’s education, buy food and necessities, let alone repair the roof of her home.
Then came an opportunity to work as a road maintenance worker—and find a way out of poverty.
For over 70 years, the World Bank Group has successfully raised funds in the capital 
markets to invest in development projects. Through its arm for middle-income countries, the International Bank for Reconstruction and Development (IBRD), the World Bank Group funded public sector projects like roads, green energy, health or education systems; and through the International Finance Corporation (IFC), it provided capital to the private sector in developing countries to help businesses grow and provide jobs, taxes and other wider societal benefits.
It is undeniable that progress has been made in reducing extreme poverty over the last 
quarter century—from 36 percent of the world population in 1990 to an estimated 8.6 percent in 2018—and that living standards for hundreds of millions of people have improved over that time.
Yet, poverty reduction has not been consistent across countries and today it is slowing.
Global growth remains subdued, with the pace of investment and trade softening, and 
downside risks persisting due to policy uncertainty, trade tensions, financial volatility, and rising debt. The World Bank Group, in cooperation with the International Monetary Fund, can help emerging and low-income countries bolster potential growth, increase their resilience to shocks, boost domestic revenues, and continue building policy buffers. The two organizations have an important role to play in addressing the increase in debt vulnerabilities, and they can help countries meet a range of challenges to the international financial system, including tackling corruption.
Economic growth has the power to transform societies, boost prosperity, and enable 
citizens to thrive. But for that economic growth to benefit the poorest members of society, it must be accompanied by more and better jobs, one of main routes out of poverty. That is why job creation remains a top development priority—and a critical challenge.
As I prepare to head to Abidjan, Côte d’Ivoire, for the 2019 Development Finance Forum, it is useful to remember that the private sector is a key player in development. A vibrant private sector is a powerful driver of jobs and can underpin sustainable economic growth, fueling innovation and poverty reduction.
This year, World Refugee Day finds me in Addis Ababa with representatives from more 
than 50 governments to review the work of the International Development Association (IDA), the arm of the World Bank Group that provides financing to the poorest countries, and discuss priorities for the years ahead.
Ethiopia is among the countries that is taking major steps forward. Here, for example, we have supported the government in adopting a new legal framework for refugees which will allow them to gradually move out of camps, find jobs, and access education and health services. This is no small measure for the more than 900,000 refugees who are hosted along Ethiopia’s borders with Somalia, Eritrea, Sudan, and South Sudan. It is the difference between having a chance to restart their lives or be condemned to dependency and destitution.
