The Russian invasion of Ukraine threatens the uneven recovery of developing East Asia and Pacific (EAP) countries. The invasion comes on top of the economic distress caused by the lingering COVID-19 pandemic, the financial tightening in the United States, and the pandemic resurgence and the economic slowdown in China. While commodity producers and fiscally solid countries in the region may weather these shocks with less difficulty, these events will dampen the growth prospects of most economies in the region. Overall economic growth is projected to slow to 5 percent in 2022— 0.4 of a percentage point less than expected in October. If global conditions worsen and national policy responses are weak, growth could ease further.
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Are we ready for the coming spate of debt crises?
Higher inflation. Slower growth. Tightening financial conditions.
In recent weeks, Russia’s invasion of Ukraine has exacerbated global economic risks. There is a fourth element, however, that could make the mix combustible: the high debt of emerging markets and developing economies.
Continue readingAddressing Challenges to Growth, Security, and Stability
In his speech, “Addressing Challenges to Growth, Security, and Stability,” President
Malpass will discuss how conflict, COVID-19, and climate change have created unprecedented challenges for developing countries, hurting the poorest and most vulnerable people and communities. He will outline how, moving forward, crisis recovery and longer-term development requires economic transformation, investment in human capital, and security and stability underpinned by support from the international community.
This speech will be broadcast live from Poland, a country that has taken in over 2.3 million Ukrainian refugees fleeing war.
Watch the World Bank Group Public Events
Visit the Official Spring Meetings 2022 website
Visit the World Bank Group website
Is there a best way to target social assistance?
Social protection programs help individuals and families escape poverty, mitigate and
manage risks, and improve resilience and opportunity. Yet, most countries have limited resources for social protection interventions. Prioritizing populations most in need therefore becomes necessary and important.
Four paths to respond to the food price crisis
As the devastating war in Ukraine rages on causing untold suffering, its impact is being felt
far beyond its borders, battering a world emerging from a pandemic that has hit developing countries hardest. Among the most critical is the food price crisis, calling into question the affordability and availability of wheat and other essential staples.
There is no downplaying the blow that the war has dealt to food systems, already fragile from two years of COVID-19 disruptions, climate extremes, currency devaluations, and worsening fiscal constraints. , not only wheat but barley, maize, and edible oil among others exported by these two countries. Global and domestic food prices were already close to all-time highs before the war, and a large question mark looms over the next seasons’ harvests worldwide due to the sharp increase in fertilizer prices as well.
“Whether we succeed in managing food price volatility and navigating our way out of this new crisis depends on national policies and global cooperation.”
2022 World Bank Group Spring Meetings
| UPCOMING EVENTS |
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Spring Meetings 2022
Conflict, COVID and climate change have combined to create unprecedented challenges for developing countries. At these Spring Meetings – taking place in the shadow of war in Ukraine – the World Bank Group will convene leaders, experts and activists to discuss the impact of these global shocks on the most vulnerable communities.
Global Economic Prospects 2022
The global recovery is set to decelerate markedly amid continued COVID-19 flare-ups, 
diminished policy support, and lingering supply bottlenecks. In contrast to that in advanced economies, output in emerging market and developing economies (EMDEs) will remain substantially below the pre-pandemic trend over the forecast horizon. The global outlook is clouded by various downside risks, including renewed COVID-19 outbreaks due to Omicron or new virus variants, the possibility of de-anchored inflation expectations, and financial stress in a context of record-high debt levels. If some countries eventually require debt restructuring,
this will be more difficult to achieve than in the past. Climate change may increase commodity price volatility, creating challenges for the almost two-thirds of EMDEs that rely heavily on commodity exports and highlighting the need for asset diversification. Social tensions may heighten as a result of the increase in between-country and within-country inequality caused by the pandemic. Given limited policy space in EMDEs to support activity if needed, these downside risks increase the possibility of a hard landing. These challenges underscore the importance of strengthened global cooperation to foster rapid and equitable vaccine
distribution, proactive measures to enhance debt sustainability in the poorest countries, redoubled efforts to tackle climate change and within-country inequality, and an emphasis on growth-enhancing policy interventions to promote green, resilient, and inclusive development and on reforms that broaden economic activity to decouple from global commodity markets.
diminished policy support, and lingering supply bottlenecks. In contrast to that in advanced economies, output in emerging market and developing economies (EMDEs) will remain substantially below the pre-pandemic trend over the forecast horizon. The global outlook is clouded by various downside risks, including renewed COVID-19 outbreaks due to Omicron or new virus variants, the possibility of de-anchored inflation expectations, and financial stress in a context of record-high debt levels. If some countries eventually require debt restructuring, this will be more difficult to achieve than in the past. Climate change may increase commodity price volatility, creating challenges for the almost two-thirds of EMDEs that rely heavily on commodity exports and highlighting the need for asset diversification. Social tensions may heighten as a result of the increase in between-country and within-country inequality caused by the pandemic. Given limited policy space in EMDEs to support activity if needed, these downside risks increase the possibility of a hard landing. These challenges underscore the importance of strengthened global cooperation to foster rapid and equitable vaccine
distribution, proactive measures to enhance debt sustainability in the poorest countries, redoubled efforts to tackle climate change and within-country inequality, and an emphasis on growth-enhancing policy interventions to promote green, resilient, and inclusive development and on reforms that broaden economic activity to decouple from global commodity markets.
Full Report
Boskalis to protect eroded Togo and Benin coastline and construct innovative sand engine concept for beach replenishment
PRESS RELEASE 
Papendrecht, 24 March 2022
Boskalis has been awarded the contract for the protection and replenishment of more than 40 kilometers of coastline stretching from the eastern coastline of Togo to the western coastline of Benin in West Africa. The coastal protection project is part of the West African Coastal Areas Management (WACA) program. The award was made by the governments of Togo and Benin with the financing made available by the World Bank. The contract carries a value of approximately EUR 55 million.
A bold response is needed to achieve a water-secure world
Water is the most essential human need and is critical for development, growth, and
resilience. Clean water, safe sanitation, and good hygiene are necessary for achieving positive health outcomes.
Yet one-quarter of the world’s population – 2 billion people – lack safe drinking water and half – 3.6 billion people – lack safe sanitation.
Netherlands for the World Bank 
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