Helping countries cope with multiple crises

PLUS: Watch replays of our Spring Meetings events. If you're having trouble reading this message, [click here]( [The World Bank logo]( [Helping countries cope with multiple crises]( [Helping countries cope with multiple crises]( This year’s Spring Meetings of the World Bank Group and International Monetary Fund took place at a time of overlapping global crises. The war in Ukraine has compounded concerns about inflation, COVID-19, climate change, and debt, with many other countries also facing fragility and conflict. The [chair’s statement]( issued by the Development Committee, a ministerial-level forum that represents 189 member countries of the two organizations, noted that the impacts will be felt most in low- and middle-income countries, especially by their most vulnerable people, including women and children. The statement added that economic recovery is at risk amid geopolitical tensions, with investment, trade, and growth affected, even as countries face further risks from the pandemic and uneven deployment of vaccines. [READ STORY]( REPLAYS April 12 | 7:30 AM EDT [“The Trend Toward Insecurity is Deeply Concerning”]( [“The Trend Toward Insecurity is Deeply Concerning”]( In his speech at the Warsaw School of Economics ahead of the 2022 Spring Meetings, titled “Addressing Challenges to Growth, Security, and Stability," World Bank Group President David Malpass discussed the millions who are suffering amid massive reversals in development and outlined actions the global community can take to help address this situation. [Read the full speech here]( which was broadcast live from Poland, a country that has taken in over 2.3 million Ukrainian refugees fleeing war. [WATCH THE REPLAY]( April 19 | 11:30 AM EDT [The Way Forward: Responding to Global Shocks and Managing Uncertainty]( [Responding to Global Shocks and Managing Uncertainty]( IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass kicked off the 2022 Spring Meetings, emphasizing the need for increased debt transparency when debt levels are already high, and urged advanced economies to adjust their policies and improve access to markets, especially during the current food crisis. They also highlighted the immediate response both institutions are providing Ukraine and also discussed how to support the rebuilding of the country. [#ResilientFuture]( [WATCH THE REPLAY]( April 20 | 9:15 AM EDT [Opening Press Conference with David Malpass]( [Opening Press Conference with David Malpass ]( World Bank Group President David Malpass addressed the press during the International Monetary Fund and World Bank Group 2022 Spring Meetings. He provided updates on the Bank Group’s efforts to respond to myriad crises around the world, as well as to help developing countries manage uncertainty and deliver green, resilient and inclusive development. [#ResilientFuture]( [WATCH THE REPLAY]( April 20 | 11:00 AM EDT [The Digital Revolution: Fostering Inclusion and Resilient Growth]( [The Digital Revolution: Fostering Inclusion and Resilient Growth ]( As developing countries struggle to recover from the COVID-19 pandemic, digital solutions are enabling economic transformation and putting them on a path toward green, resilient, and inclusive growth. Private and public investment in digital solutions is bringing critical services to the poorest, creating jobs, strengthening small and medium businesses, enabling trade and services, and building resilience to shocks. Catch our replay and learn more.[#PowerofDigital]( [WATCH THE REPLAY]( April 21 | 11:00 AM EDT [Financing Climate Action]( [Financing Climate Action ]( Financing Climate Action lays out the complexities of tackling climate and development objectives together amid a geopolitical landscape characterized by conflict, rising prices, and intensifying climate impacts. Several pressing issues are addressed in a series of conversations, from the cost of phasing out coal and the scale of the climate risk we face, to the need to de-risk investments in low-carbon and energy efficiency projects in developing countries, and the expectations for COP27 in Egypt. [#Finance4Climate]( [WATCH THE REPLAY]( April 21 | 2:30 PM EDT [Ministerial Roundtable Discussion for Support to Ukraine]( [Ministerial Roundtable Discussion for Support to Ukraine]( Ukraine’s President Volodymyr Zelensky joined this roundtable discussion with the World Bank Group via video link from Ukraine. He spoke about the enormous humanitarian and economic costs of the Russian invasion on Ukraine – including the widespread destruction of schools, nurseries and universities. The World Bank Group estimates the Russian invasion has caused almost $60 billion in physical damage to buildings and infrastructure. The event was hosted by the World Bank Group and the Government of Ukraine. [WATCH THE REPLAY]( April 22 | 12:00 PM EDT [On the Frontlines of Rising Fragility]( [On the Frontlines of Rising Fragility]( By 2030, up to two-thirds of the world's extreme poor could live in fragility, conflict, and violence (FCV) settings, so without addressing the challenges in these economies, we will not succeed in our mission to eradicate extreme poverty and boost shared prosperity. During this event, we heard from David Malpass, President of the World Bank Group, as well as partners and country representatives on how to stay engaged during times of crisis and meet the challenges in new and innovative ways. [#RisingFragility]( [WATCH THE REPLAY]( April 22 | 2:30 PM EDT [Preserving Open Trade]( [Preserving Open Trade ]( At a time when the global economy is coping with multiple shocks, including the pandemic, the Russian invasion of Ukraine and supply chain disruptions to food and other goods, governments are increasingly turning to subsidies for relief. But the costs can be very high, in terms of public spending and distorted incentives for investment and consumption. In this event, the heads of the four key global economic policy institutions—the World Bank Group, the IMF, the OECD and the WTO—discussed the importance of trade and global cooperation for overcoming current challenges and implications of subsidies for markets and poor countries. [#UnleashTrade]( [WATCH THE REPLAY]( April 23 | 11:00 AM EDT [Invest in People]( [Invest in People ]( Now–more than at any other time in living memory–human capital is being dealt devastating blows by conflict, climate change, and the COVID-19 pandemic. The losses to learning, health outcomes, livelihoods, and gender equality have immediate and long-term impacts on people’s well-being and can undermine economic recovery and prosperity for years. Listen to leaders, innovators and change makers who are taking action to put people at the heart of recovery. [#InvestInPeople](. [WATCH THE REPLAY]( Connect with us on social media! Accredited journalists may obtain advance access to reports and information by registering with the Bank's [Online Media Briefing Center]( a password-protected site for working journalists. Material in this newsletter is copyrighted. 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