in my discussions this morning at the development committee, i thanked the group, the governors of the various world bank constituencies. i thanked them for their support and in their encouragement during my first year as the bank group's president. there's a very long road ahead. hundreds of millions of people need support. as you know, development needs were acute even before the shutdown in the global economy. also the debt burdens and problems in debt sustainability were giant. we're working on those but 2/3 of the world's extreme poor live in ida countries and will be severely impacted by a major global recession. our response has been closely coordinated with other governments, with international organizations, with other multilateral development banks, bilateral financiers, as well as with private sector and civil society. i have been very proud of the world bank group's effectiveness during the pandemic. we wanted fast, broad action and we're getting results on that and it took a lot of work from people to achieve that. i took the opportunity this morning at the development committee to thank the

we, at the world bank group believe in africa. the next five panelists have done things show they, too, believe in africa. private sector representatives i just invite you to get to know us we have an instrument that will invest with you. just imagine, investment in electricity that will not only provide you with strong returns, but will reduce the price and increase access to electricity for people of the area we know we can could it with you wex look forward to next meetings when we can talk about great things accomplished on behalf of the people of africa. thank you very much. >> ladies and gentlemen, welcome to stage founder and chairman eco net wilus. there strive masiyiwa, mr. steven a schwartzman, ceo and co-founder maurice general partners. mr. shepo maloleh. chairman and c executive officer to coca-cola company, mr. mutar kent. and moderator, the honorable susan rice. >> hello, everybody. thanks for joining us. i want to join my colleagues in thanking the organizers of the event in particular, the department of commerce,

sheila redzepi, vice president for external and corporate relations with the world bank group. nancy chen, anchor at our local abc affiliate. chief executive officer at the world bank. good to have you. skipping over the podium to my right, betsy fisher martin, executive in residence at american university and co-chair of the npc headliners team. skipping over our guest speaker, donna borak, senior economics writer at cnn money. kevin wintsing, a captain with the u.s. navy, retired. executive director of first global challenge. thank you for your service, kevin. bob, i didn't realize you were back at the head table. got you earlier. we've got kevin. frank islam, chairman and ceo of fi investment group. and now a round of applause for our head table. thank you. [ applause ] now to our guest speaker today. the world bank was created at the bretton woods conference in 1944 along with the international monetary fund, with which its often confused. the world bank might be described as the biggest community bank on the planet. the main mission of the bank involves projects targeting t

for the world bank group, moving beyond age means continuing to transform ourselves to become an open knowledge partner, drawing from researching, customizing and sharing solutions from around the world. the world bank group would be an investor and intermediary for investors and institutions and in capacity, whether of governments or businesses or civil society. it would be a catalyst for action in a democratized development model. and it would be a champion of inclusive and sustainable growth. three years ago i proposed one such innovation. i called it of 1 percent solution whereby sovereign walled funds would invest one percent of their assets and africans growth. today i see the private sector arm as a new asset a management company and the fund's total over $4 billion over 3 billion of which come from outside investors such as auburn well funds and pension funds. today i want to propose another idea that could bring us closer to a world beyond aid, 50% solution. women make up 50% of the global population, and 40% of the global work force. in africa were mixed -- women are the bac

for the past 70 years, that world order, it nato, the wto, imf, the world bank group, has helped ensure relative peace and stability. from the very beginning the mission was to help ensure everyone has opportunities. freedom of opportunity. the world bank's first mission was to find reconstruction in europe. the first loan was to france. after the announcement of the marshall plan at a commencement address at harvard in 1946 by general marshall, the focus shifted to development and poverty reduction. the institution evolved into the world bank group today. five institutions provide our countries with specialized financial tools and global knowledge. we're the only global multilateral development institution and the value proposition is that we bring knowledge from every corner of the earth to every one of our clients. the very first institution formed was the international bank for reconstruction and development. it uses its aaa rating, one of the best in the world, 15 basis points which is not quite as good as the u.s. treasury but close. we issue bonds, borrow money, and provide loans

sheila is vice president for external and corporate relations with the world bank group. nancy chen, anchor at wj l.a.. chris gori eva is chief executive officer at the world bank. over the podium, to my ,ight is betsy fischer martin cochair of the npc headliners team. skipping over our guest speaker, writerorac is the senior at cnn money. kevin is the captain with the u.s. navy, retired, executive director of the first global challenge, thank you for your service. bob, i did not realize we had you back at the table. a little sleight of hand and musical chairs. now, around of applause for our head table. thank you. now to our guest speaker. the world bank was created in 19 44, along with the international monetary fund, with which it is confused. the main mission of the bank issues on ageting local and community level, helping women climb the economic ladder, and improving the health of people living in the developing world. this is the work under the 12th president. our guest speaker holds a phd in anthropology and is also a physician. he spent most of his childhood growi

the vice president for external and corporate relations with the world bank group. nancy chen, our local abc affiliate. chief executive officer at the world bank. skipping over the podium, to my right is betsy fischer martin, executive in residence at american university. skipping over our guest speaker, the senior economic adviser writer. the captain with the u.s. navy, retired, executive director of first global challenge. thank you for your service. a little sleight-of-hand and musical chairs. chairman and ceo of fi investment group. a round of applause for our head table group. thank you. [applause] now to our guest speaker, today. the world bank was created at the bretton woods conference in 1944 along with the international monetary fund, with which it is often confused. the world bank might be described as the biggest community bank on the planet. the main mission involves projects targeting local levels, projects like alleviating poverty and helping women to climb the economic ladder and those focusing on improving the health of those living in the developing

>> we are looking at -- when i came to the world bank group, one of the first questions was, well, you guys are relatively small players. we are $65 billion but giving the infrastructure needs in the world that are not being financed is probably a trillion dollars. we are very small. we began thinking and always been in trying to do this to see how to leverage funding. something we are calling the global infrastructure facility. we realize that the world bank has a lot of skills, a lot of experience that others don't have. for example, can we build, for example -- infrastructure that increases renewable energy, for example, in developing countries? we don't have enough money to do it. but if we were able to structure a deal that a pension fund might think of as too risky, but if we do the work and build in safeguards, can we with with a small investment crowd in other investors to get the infrastructure we need. out of the g-20 leaders' meeting we got investment. and that is one example of how we are going to try to use project preparation is a huge example. new development banks that

is the world bank group relevant any more? came quickly to the conclusion that not only are we relevant, but if we can get quicker, if we can move knowledge more effectively, if we can reduce our own bureaucracy our relevance could skyrocket. we want to be the organization of the world that captures all the great innovations in development and then can move them to anywhere that might be needed. for example if something great is happening in climate smart agriculture in costa rica, we want folks to know about it art away. this is the organization that if you come to the world bank group we're going to know about all the great innovations, and how they weren't implemented. not just what to do but how they did it. if we can provide that to everyone country in the world then i think the demand for our services will grow. >> when you talk about inclusive growth, and you talk about inequality, and ending extreme poverty by 2030, i suppose if your threshold is $1.25 it's not going to cost the world all that much to do, but does this

before i do, i want to just ask you all to join me in thanking again jim kim and the world bank group for a really extraordinary announcement that he just made on behalf of the world bank for forare for the initiative to double access the power to africa. and the commitment is an enormous contribution for which we are very grateful. i know president obama is very grateful. pleasing with join me in thanking him. >> so broadly speaking in the context of the panel, we want to explore the nature of african's infrastructure needs. the challenges that we face in terms of trying to enhance both the energy infrastructure, transportation infrastructure, and this panel is incredibly well suited to do so. we have ceos, we have investors, we have those are the specialized in every aspect of the infrastructure challenge. and what i would like do, most of all, is invite you all to share in particular the challenges that you see in terms of bringing a greater infrastructure to africa so that africa's development is facilitated and supported where in particular you see the opportunity for policy to p

first time that the positioning speech for the world group annual meetings is being held in continental europe. germany is the major anchor for the world bank group in the rest of europe. it is the fourth largest shareholder and the fourth largest contributor, and chancellor merkel has always been a supporter of the world bank group priorities including tackling debt and covid as well as action on global public goods . i understand that these priorities are also the focus of germany's eu presidency, which runs through the end 2020. ens said, the covid pandemic is a crisis like no other. it's toll is massive qom and people in poor countries are likely to suffer the longest. the pandemic has disrupted likelihoods in every corner of the globe. it has knocked more economies into simultaneous recession than at any time since 1870. and it could lead to the first wave of a lost decade burdened weak growth and a collapse in many health and education systems and excessive debt. the pandemic has already changed our world decisively and forced upon the world of painful transformation. it has changed everything -- the way we work, the extent to which w

our entire leadership at the world bank group, including the heads of global practices, will be responsible for spreading knowledge and scaling up successful programs. what we've called at the world bank group a science of delivery. delivery is about ensuring that the intended results reach the intended beneficiaries at or near expected cost. in order to deliver a scale, we need to cure ate knowledge, ack sell at problem solving, deal with complex systems, measure effectiveness throughout all of the projects that we work on. if we can deliver on our problem -- on our promises, we can are have a transformational impact in the world. the world developments far outweighs the needs to address them. we can do so much more. in order to meet the increased demand we're expecting as we get better at delivering knowledge and solutions to our clients, we've also strengthened our financial capacity to scale up revenue and stretch our capital. i'm pleased to announce today that with the support of our board we now have the capacity to nearly double our annual lending to middle-income countries, from $15

kim: at that time what we were arguing is that the world bank group was too focused on gdp growth, andt the kind of investments it was making was not focused enough on things like health and education. and this was an argument that was going on in development economics. david: you were an expert initially on tuberculosis. dr. kim: i had been working on drug-resistant tuberculosis. and i had done a lot of work in trying to just get the global health community to change its perspective on it. and then when i went to the world health organization, it was the same thing. i mean, there were the overwhelming consensus, like 99.9% of all the hiv physicians in the world were saying, impossible to treat hiv in developing companies. there were 25 million people in africa who were living with hiv. and the global health community was about to issue a death sentence on all 25 million people living with hiv in africa. and so, that was what i did. david: so you leave the world health organization after a couple years heading their hiv program. you then go to harvard medical school and teach there. an

this is what we'll - we'll be the organization, that if you come to the world bank group, we'll know about the what was implemented and how they did it. if we can provide that to every country in the world demand for our services will grow. >> when you talk about inclusive growth and inequality and ending extreme poverty. it's not going to cost the world all that much, but does it involve wealth distribution, and ronald asked this question on facebook, it's translated from french - the main question of inequality is addressing solutions. what do you do. ? >> brazil and mexico showed us conditional cash transfers had a huge impact. not only have they lessened the poverty of the household but increased attending at school is and improved weight for age in young children. the programs have been shown to work. moving cash, literally, to some of the poorest households and the countries that can manage the bureaucracy of measuring, putting conditions on it, and countries so poor that they can't manage tracking whether they go to the public health institute and school, giving unconditional

and for the first time, can you believe it, for the first time in the history of the world bank group we're the ones that do these calculations, we're including human capital in assessing wealth. it turns out about 65% of all wealth in the world is human capital. it wasn't too long ago that the only kind of capital we looked at was produced capital, roads, energy, infrastructure that was built but about ten years ago we started including natural capital which we have to take into consideration. natural sources, water, air, et cetera. but now that we look at human capital at 65%, if we can look at the next slide it turns out that the percentage of overall capital that per capita high-income countries have huge amounts of wealth per capita and again, most of it is human. but if you look at middle and low income countries there is just so much catching up to do to get anywhere near the kind of wealth per capita, especially human capital per capita that there is in the wealthy countries. so we asked a pretty straightforward question i thought. the question was, have things changed enough

the world bank group has completed an early assessment of the physical damage. it puts the cost in terms of buildings and infrastructure. the narrow cost at roughly $60 billion. that does not include the growing economic cost to ukraine's economy and also of course the war is ongoing so those costs are rising. ukraine's government and state state owned enterprises face a large nonmilitary fiscal deficit and debt burden. since the invasion, the world bank group has provided vast disbursing financial support to help provide the government provide critical services, pay wages for hospital workers, public servants, and the elderly. we have provided immediate working cap over companies providing supplies to ukraine. we have now mobilized more than $3 billion to ukraine to support the continuation of essential government services. this was made possible -- and i want to thank our grant contributions from the united states, the united kingdom, norway, denmark, austria, latvia, lithuania, iceland, and guarantees from the united kingdom, netherlands, and sweden, and para

world bank fully works there as well. we need to stay focused on that. responding appropriately is mission-critical for the whole world bank group because of the breadth of this crisis. this includes ukraine, the countries hosting the refugees near ukraine and also developing economies more broadly. it is in the range of $50 billion in the current quarter of 2022. that was a responsive surge. a couple more points, to be successful, they need to increase market access by reducing export and import restrictions and believing price control. the essential elements of the world bank group response to the current crisis include encouraging food producers, enabling market access to private sector investment and protecting the most vulnerable populations through targeted and cost-effective cash transfers. these are key elements of my recent call to action. let me mention two mechanisms that could be mobilized alongside ida. if we are going to boost food security and resilience in a well coordinated way. first, the global agriculture and food security program that has set up a g20 response in the 2007 and 2008 food crisis, it already works in the poorest countrie

we at the world bank group see these development banks as strong allies in tackling the enormous challenge of bringing much needed infrastructure to the developing world. our mission is defined by two goals, to end extreme poverty by 2030 and boost shared prosperity among the 40% poorest in lower and middle income countries. these goals are ambitious and as we think about the new development banks wefl have to admit there's more than enough work to go around. by 2030 we'll likely need 40% more energy and face a 40% short fall of fresh water. pressures that may well be further accelerated by climate change. we estimate that the developing world will need an additional 1 to $1.5 trillion every year to be invested in infrastructure and roads and bridges and railways and increasingly desal nation facilities. if the world's multilateral banks can form alliances, work together and support development that addresses these challenges, we will all benefit, especially the poor and most vulnerable. it's our hope and expectation that these new institutions will join the multilateral development banks

i'm not just 21 months into my 10 year president of the world group -- world bank group. i asked myself are we doing enough every single day? three months after i started we defined ourselves as a solutions bank that will marshal evidence and experience will knowledge and apply them to local problems. a year into my job the board endorsed our twin goals, and just six months ago the board endorsed our strategy, aligning our operations to meet the goals. since then we've made substantial changes and where well underway to become to becoming the solutions bank we envisioned to help clients tackle the toughest challenges to meet the twin goals. i feel very fortunate to work in an institution that has so much intellectual depth, no the 1000 economists and 2000 ph.d's. and those ph.d's have at least 4000 opinions points of view on any given issue on any day. in my time at the world bank group as you can imagine, i've had no shortage of pointed advice from my staff. but their passion and insight remind me on a daily basis that are people care deeply about their mission. we recen

what we'd like to see, and we measure it for the first time the world bank group says a goal is a maybure of inequality. which is to what extent are the bottom 40% sharing economic growth, and the goal is they should have a faster income growth than the economy as a hole. we are looking at everything we can do to make it happen. sometimes it's safety nets, job skills, training programs and specific investments in the private sector to create the jobs that young people are looking for. it's different in different areas. we have global knowledge. i can say what did they do in mexico to move from a traditional cash programme to formal employment. in my view, as long as we do that, take global knowledge and move it to where it's needed us. >>> greece, the birthplace of civilisation, home to ruins from all sorts of areas in the world. i went to greece to dig into the incompetence and corruption to dig into financial collapse. . >> will the greek tragedy by avoided? from the streets to the halls of power, i'll take you to greece for a series of reports to see if this country can avoid an immine

. ♪ >> you're watching world bank group imf. >> successful global deployment of the vaccine will haveenormous impact on so many aspects of our lives. let's remind ourselves of the difference it could make. ♪ ♪ ♪ >> now let's hear from two organizations working on the frontline of the vaccine rollout. the executive director of global programs at save the children u.k. going hines, and head of covid-19 crisis management for the international committee of the red cross. >> vaccinations for all is possible if we work together. we have made enormous progress over the last year on vaccine development, but none of us are truly protected until all countries have covid under control. and the cost of not doing this is going up every day. for the first time in 30 years, progress on child poverty hunger is going backwards. an entire generation have had their learning disrupted. millions of children, especially girls, will never go back read so we need to act now. for those who say it is too hard to reach the last mile, it is not. . we do it already with measles vaccinations with meningitis, so pl

world health group, the world health organization, and the wto. therefore we have special guests today. the managing director of the international monetary fund. the president of the world bankroup. the director general of the world trade organization. and last but not least, director general for the world health organization. welcome. simultaneous interpretation is provided in the six official languages. arabic, chinese, french, english, spanish, and russian, as well as portuguese and hindi. now, the other participants we will have in the room here, dr. mike ryan, the executive director of the health emergency's program. the technical lead for covid-19. chief scientist. senior advisor to the director general. director for immunization vaccines and biologicals. and director for regulation and prequalification. with this, let me hand it over for the opening remarks. the floor is yours. >> thank you. good morning, good afternoon, and good evening. yesterday, the world health assembly wrapped up a highly productive week of discussions and decisions. it was conducted entirely virtually. we look forward to meeting in person. i was heartened that not together, we made decisions on

world bank-imf annual meetings. dr. kim will give a statement and then we will take questions. thank you. >> good morning, everybody. and welcome to the 2014 world bank group-imf annual meetings. i have 3 topics and then i will take your questions. i've just come from a meeting focused on the ebola epidemic. and we had an extremely productive discussion. we had president conde from guinea with us and president johnson sirleaf and president koroma on video conference. they not only addressed us, they made extremely specific requests as to what they need. to focus their response. the crisis, we know could have , an enormous impact. just yesterday, we gained an understanding of the potential economic impact. the world bank released a new economic impact assessment that said if the epidemic is not quickly contained and if it spreads to neighboring countries, the two-year regional financial impact could reach $36 billion by the end of 2015. that could be catastrophic for the region. one of the things secretary of the department for international development in the u.k., justin greening, pointed out -- every day we do not invest in stopping the crisis is many, m

so, again, going back to the history of the world bank group, we had an arm that was originally set up in 1944 to help with the reconstruction of europe and japan, then developing countries in the '50s, ifc which is our private sector arm, private sector profit-making arm. then ida for the poorest which came up in the '60s. so my thought was in a way we need something to further support and sort of fund civil society working on these social accountability issues. now, this is not a slam-dunk because you know, again, if you believe in the separation of state and civil society, i'm always a little wary of public financing or government financing of groups because do they maintain their independence so working with interaction and others we spent time talking to groups about how can we do this in a way that helps fund and contribute to better societies and accountability, maintains independence, has high standards, and that's what we're launching. and it also is the subject of some sensitivity with our board of directors, 25 members covering these 188 countries because they're worried, we

>> we are looking at -- when i came to the world bank group, one of the first questions was, well, you guys are relatively small players. we are $65 billion but giving the infrastructure needs in the world that are not being financed is probably a trillion dollars. we are very small. we began thinking and always been in trying to do this to see how to leverage funding. something we are calling the global infrastructure facility. we realize that the world bank has a lot of skills, a lot of experience that others don't have. for example, can we build, for example -- infrastructure that increases renewable energy, for example, in developing countries? we don't have enough money to do it. but if we were able to structure a deal that a pension fund might think of as too risky, but if we do the work and build in safeguards, can we with with a small investment crowd in other investors to get the infrastructure we need. out of the g-20 leaders' meeting we got investment. and that is one example of how we are going to try to use project preparation is a huge example. new development banks that

but before i do, i want to just ask you all to join me in thanking again jim kim and the world bank group for a really extraordinary announcement that he just made on behalf of the world bank for power africa, the president's signature initiative to double access to power to africa. and the commitment of $5 billion from the world bank group is an enormous contribution for which we are very grateful. i know president obama is personally very grateful. so, please, join me in thanking him. so broadly speaking in the context of this panel, we want to explore the nature of africa's infrastructure needs, the challenges that we face in terms of trying to enhance both the energy infrastructure, transportation infrastructure, information, communications and technology infrastructure. and this panel is incredibly well suited to do so. we have ceos, we have investors, we have those that have specialized in every aspect of the infrastructure challenge. and what i'd like to do, most of all, is invite you all to share in particular the challenges that you see in terms of bringing greater infrastructure

>> we're looking at, you know, when i came to the world bank group, one of the first questions was, well you guys are relatively small players. we are $65 billion a year but given that infrastructure needs in the world right now, additional infrastructure needs not financed probably a trillion to a trillion and half dollars. we were very small. we began thinking and we always have been under trying to do this, to see how we can leverage funding. something we call the global infrastructure facility, we understand that world bank has a lot of skills, a lot of experience that others don't have fm for example, can we build, infrastructure that increases the renewable energy, for example, in a developing country. well we don't have enough money do it. but what if we were able to structure a deal that normally the wealth fund or a pension fund might think of as too risky. but if we do all the work and build in safe guards along the way, can we with a relatively small initial investment o crowd in other investors to increst in the kind of infrastructure we need? just out of g-20 leaders meeting

we at the world bank group believed in africa.he next five panelists have all done things that show that they, too, believe in africa. sector private representatives here today, i would invite you, and get to know us at the world bank group. we do political risk insurance, credit enhancement, direct equity investments, and we have a private equity instrument called the asset management corporation that will invest with you in africa. the opportunities are enormous. just imagine, an investment in electricity that will not only provide you with very strong returns, but will reduce the price and increase the access to electricity for the people there. it to gathern do with all of you. we look forward to the next meeting of the united states government africa leaners we can talk about the great things that we have accomplished for our companies and on behalf of the people of africa. .hank you very much [applause] >> ladies and gentlemen, please theome to the stage and chief executive of ibm. chairman and chief executive and cofounder

town hall meeting to hear concerns and questions from staff about the ongoing reforms at the world bank group. what was your biggest takeway from that meeting, and do you expect that it will lead to any concrete changes in either the implementation or communication of your reforms? and then sorry, just a quick second question. you're undergoing a strategic staffing exercise to map staff -- to match staff to the global practices. how do you know where expertise will be required before you've seen demand for your services under the new organizational structure? thank you. >> thanks, michael. first of all, we're undergoing the most thorough, the most ambitious reorganization in close to 20 years. so it's not a surprise to me that there's anxiety, that there's concern. more than anything, what the staff were saying was that they wanted to talk to me directly. they wanted to tell me what the problems are that they were seeing. and i was aware of some of them. there were some that were new to me. but we had an extremely good discussion, and my takeway from that, the most important takeway, the thin

what is the world bank doing in a situation regarding having social safety and social security or situation of the tax system because if u.s.a. world a group actually involve and engage this developing countries in the aspect then they will learn as the policy of the world bank to engage to come into that line. even if there is no money in terms of poverty for the low income or poor people but the system and infrastructure in place. so that is one aspect. >> i have too many other people. >> let me take what i think i understood your question to be. you know on the one hand there's one thing that i think is changed most dramatically about the world they grew. it is the extent to which we engage our client in discussions about what the right and to do is. in the early 1990s i was part of a group called 50 years is enough. we were on the streets trying to argue for the closing of the world they grew. we lost that argument as i have this job now. and i have to tell you i have not seen any institution that is open to the world think in taking criticism and change in its practice over time. now the world bank group works closely to try to figure

ministers of the big seven at the spring meeting of the international monetary fund and the world bank group a new approach to... the use of frozen russian assets, that is, those assets that are located abroad that ukraine may use, rather, the world will be used to help ukraine, writes the financial times. this would be a compromise offer from the united states of america, not as radical as confiscation, but more aggressive than the current plan of the european union with allocation of profits from assets to ukraine. we are at a point where we have to explore every possible way to maximize. the value of the frozen reserves in the interests of ukraine cannot be waited forever, we understand that, dalip singh, the deputy national security advisor to the president of the united states of america, told the newspaper. this issue is quite important for ukraine, i mean the use of frozen russian assets, because experts talk about different amounts that can be frozen around the world up to 300 billion dollars, so... in principle, the question is whether the world community will dare to allow the unit

for the world bank group, moving beyond aid means continuing to transform ourselves to become an openr, drawing from, researching, customizing and sharing solutions from around the world. the world bank group would be an investor and would build markets and institutions and in capacity, whether in governments, businesses or civil society. it would be a catalyst for action in a development model. it would be an agent that advances multi lateral solutions. and it would be a champion of inclusive and sustainable growth. three years ago, i proposed one such innovation. i called it a 1% solution whereby sovereign wealth funds would invest 1% of their assets in africa's growth. in africa, the women represent the majority of farmers and produce 80% of the continent's food, women own only 1% of the world's wealth. women and girls in developing countries are less likely than men to survive early childhood or to survive their reproductive years. women are less likely to be paid for their labor, to farm profitable crops or to own assets such as land >> a child's chance of survival is much greate

before i do, i want to just ask you all to join me in thanking again jim kim and the world bank group for a really extraordinary announcement that he just made on behalf of the world bank for forare for the initiative to double access the power to africa. and the commitment is an enormous contribution for which we are very grateful. i know president obama is very grateful. pleasing with join me in thanking him. >> so broadly speaking in the context of the panel, we want to explore the nature of african's infrastructure needs. the challenges that we face in terms of trying to enhance both the energy infrastructure, transportation infrastructure, and this panel is incredibly well suited to do so. we have ceos, we have investors, we have those are the specialized in every aspect of the infrastructure challenge. and what i would like do, most of all, is invite you all to share in particular the challenges that you see in terms of bringing a greater infrastructure to africa so that africa's development is facilitated and supported where in particular you see the opportunity for policy to p

big meeting of finance ministers of the big seven and the international monetary fund and the world bank group will be held in washington, we will hear concrete proposals, because the world is tired of russia, the world is tired of putin, the world is tired of the aggressive policy of the russian federation towards ukraine to... this terrorist activity of putin, the world is wary and they understand what is happening in ukraine, and especially in the last few weeks, when the russian occupiers are attacking the energy infrastructure of ukraine, destroying tes and tec, trying to deprive ukrainians of heat, light, and actually everything that they are used to. civilized world, these attacks on civilian infrastructure can be classified as crimes, war crimes, which is true, but yesterday i had valery chala on the air, he says that in the world international practice it is not so, not so clearly in legal practice, not the responsibilities of the parties who cause these are clearly spelled out blows, and when it is done, for example, by a russian woman. then it is necessary to prove in documentary wh

public relations issue than it is a substance issue inside the world bank person after person after person tells me i came to the world bank group because i wanted to fight poverty my job now is to make sure that everyone else in the world understands that that's what we do because there are three main points to people understanding what you do is good and it's not in the interests of big corporations and richer nations first point being that you know donor countries don't and governments are the richest countries in the world and they would not do anything unless it serves their national interest and interest up. national businesses corporations don't as well i mean they're not here for charity they're really here for profit that's the general understanding second point is that you know the world bank has always been under u.s. power more or less because it's always been headed by an american and it has to most voting power within the bank you know so you can't really talk about even handed. approach within the bank and a lot of local communities who actually tell you that you know you know you when you come to help me to actua

we are very grateful to all of them, donors who put money into the world bank group, that is then used for grants and very low interest rate loans for the poorest countries. a big part of the world bank's goals and operations are to help people that are in extreme poverty -- help them with social safety nets, with food programs, with food security programs, and a range of activities to help them do better in their lives and help save lives in the current pandemic. david: let's talk about the pandemic. there has been a big concern that wealthy countries like the united states or western european countries will get the vaccine readily available to it and they can afford to pay for it. how do people in developing countries get access to vaccines and can they afford to pay for it? mr. malpass: these are big challenges. what we did in october with the support of all these shareholder countries, the idea of -- well, 12 billion dollars of financing, we can use that money to help set up vaccination systems in poor countries and also to buy vaccines from manufacturers, and also from covax, an i