TY - BOOK ID - 134793571 TI - Remarks at the Development Committee Virtual Meeting PY - 2020 PB - Washington, D.C. : The World Bank, DB - UniCat KW - Business Cycles and Stabilization Policies KW - Development Economics and Aid Effectiveness KW - Economic Conditions and Volatility KW - Finance and Financial Sector Development KW - Governance KW - International Governmental Organizations KW - Macroeconomics and Economic Growth UR - https://www.unicat.be/uniCat?func=search&query=sysid:134793571 AB - David Malpass, President of the World Bank Group, summarized the challenging environment now facing the World Bank Group, as the unprecedented COVID-19 pandemic affects the world. He is expecting a major global recession to complicate the devastating health crisis. The extreme poor in IDA countries will be severely affected. He reviewed the measures taken by the World Bank Group in response to the emergency. The program has three pillars: protecting the poorest and most vulnerable households; supporting businesses and saving jobs; implementing emergency health operations in developing countries to strengthen economic resilience. To this end, USD 160 billion in financing over the next 15 months are available. He summarized the debt relief initiative championed at the G20 meeting. He recapped the activities during the Spring meetings and recent high-level appointments. ER -