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

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

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

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. as jens 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 by 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 w

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

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

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

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

over the p next 30 minutes, we'l be discussing the journey that the world bank group has undertaken to evolve into a better, bigger bank. we know that the world is facing a host of intertwined challenges from climate change, pandemics, fragility, geopolitical techs -- tensions too debt and stress. the upcoming panel will discuss the reforms that the world bank group has undertaken to be more responsive to countries dealing with these challenges. have they been successful? and are the countries starting to feel the change? before we welcome our full panel, we'd like to invite secretary of the treasury janet yellen the start us off with a few. opening remarks. madam secretary. [applause] >> thank you, mark. two years ago on the eve of the annual meetings, i called for evolution of the multilateral development banks. today i'm glad to be here with president banke, lord brown and the minister to lay out what we've achieved and to reaffirm our commitment to sustaining momentum. i called for evolution because as we began to exit covid recessions around the world, i and many others saw that t

year's world bank which wilwill takeplace starting octod global leaders of the government, business and civil society. just at the stage for the evening we will hear today from world bank group david and whato it will take to tackle this crisis and how we can turn this into an opportunity for an inclusive recovery. we will be joined in conversation with the president school of finance and joining from his office in sanford doctor redman has been president of the german central bank and is a member of the governing council, represents germany and the imf and other national bodies and has been chairman of the board of directors of the bank since november, 2015. welcome. the floor is yours. >> thank you for your kind words. ladies and gentlemen it is a great pleasure and honor for me to be joining you today. as everyone here knows, addressing and realizing an inclusive and sustainable world requires jobs, education, healthcare, attention to the environment, this statement was made more than a year ago by the president of the group. given the crisis however it is very pressing indeed. a few months ago millions of people lost their jobs and national supply chains are broken, chil

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,

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

>> 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

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

by the heads of the international monetary fund, the imf, the world bank group, and the wto. we have our special guests today , the managing director of the international monetary fund, the president of the world bank group, the director general of the wto, and we have the rector general for the world health organization. simultaneous interpretation is provided in six official languages, arabic, chinese, french, english, spanish, and russian, as well as portuguese and hindi. the other participants that we have in the room of height from dr. pedro's, as dr. mike ryan who is joining us briefly, and the technical lead for covid-19 as well as the chief scientist and the senior advisor to the director general. additionally the director of the immunization of vaccines, biologicals, and the director of regulation for prequalification. let me hand this over for the opening remarks. the floor is yours. dir. gen. ghebreyesus: thank you. good morning. good afternoon, and good evening. yesterday, we wrapped up a highly productive week of discussions and decisions. it was conducted entirel

world's bank. this time on the programme, dr jim kim, the 12th president of the world bank group. during the conversation we dug into a subject of great concern - combatting the life-time effects of severe depravation of a child. stunting. >> i'm with dr jim king on today's "inside story". you mentioned stunting, it's an interesting --. ♪ ♪ you mentioned children in extreme poverty, it requires a world where we take the long view of human personhood, where it's important to support 3-year-olds, because we are worried about what 25-year-oldses they'll be. do we have that kind of world? >> i think so. there's a tremendous amount of interest in the issue, and it has been driven by fantastic research. we know more about it now. some is chilling. we know that without the right nutrition and the right stimulation children develop the connection. >> there are things like the serve and volley, they are expecting a response from someone. when they don't get it. the stress hormones shape the structure of the human being. there's evidence that you can make a difference. literally there's few

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

and the world bank group has pledged to fast track vaccine distribution on the continent to avoid a 3rd wave. the african unions target is to vaccinate 60 percent of the continents population by 2020 to the world bank wants to help with resources to allow countries to purchase and deploy vaccines for up to 400000000 people across africa . the world bank has made $12000000000.00 in financing available to help distribute vaccines in 50 countries, 2 thirds of which are in africa for more enjoyed by the president of the world bank group. david, now pass. welcome to the program. so can you tell me why has it taken so long for other countries to pitch in when it comes to the african vaccination effort? these are huge, complex problems. we have to remember that the vaccines only started becoming available at the beginning of the year. and most of the vaccines went to the advanced economies themselves, even down to younger people in those economies. so there hasn't been a system to make available the vaccines to the, to the developing countries. so i'm very pleased with our announcement this we

twitter account and you shared you retreated a come out from david ma pass, he's the head of the world bank group. the world bank group has pores disbursements in all of its operations. you suzanne on monday and stop processing any new operations. i'm gonna ask him why you shared that, but also via this comment. this question from one of our audience miss fin says i do believe that sydney's was so of the problems by themselves. no more interference of any countries at all. bearing in mind the stopping of disbursement from the world bank group a mess fin, saying sudan, we've got it. we can handle this, we don't need international interference. hipaa thoughts? well, it's one issue of international affairs thing that has been under economic action for more than 10 years and it has had impactful economy. so the reason why we treat david needs, because, you know, it's only the time where world back by and actually and in the phone book program for the families and the government, the government to fix it. that wasn't really the living public life. so that's, that's why significant the fact that these

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

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

>> well, you know, we're looking at, you know, when i came to the world bank group, one of the first questions was, well, you know, you guys are relatively small players. we're $65 billion a year, but given that infrastructure needs in the world right now, additional infrastructure needs that are not being financed is probably a trillion to trillion and a half dollars, we were very small. so we began thinking, and we've always been in trying to do this to see how we can leverage funding. one of the specific things we're doing now, something we're 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, you know, infrastructure that increases the renewable energy, for example, in a developing country? well, we don't have enough money to do it, but what if we were able to structure a deal that normally a sovereign wealth fund or, you know, a pension fund might think of as too risky, but if we do all the work and we build in safeguards all along the way, can we with

let me repeat on behalf of the world bank group, we have been deeply horrified and shocked by russia's invasion of ukraine. the atrocities committed against the civilian population and the loss of life and livelihoods were millions -- for millions of ukrainians. the russian invasion is needlessly taking lives, injuring many and causing many -- massive damage to your economy and we appreciate you going through some of that. war is a human tragedy. the world bank group has completed an early assessment of the physical damage inputs of the cost in terms of buildings and infrastructure. the narrow cost at roughly $60 billion. it does not include the growing economic cost to ukraine's economy and the war is ongoing so those costs are rising. ukraine's government and state owned -- enterprises face a deficit and a debt burden. since the invasion, the world bank group has provided vast disbursing support to help provide the government provide critical services, pay wages for hospital services. we have provided immediately -- an immediate working capital for companies supplying -- providing su

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

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

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

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

question comes in from julia, what are the practical steps the world bank is taking to ensure that the money reaches the targeted individuals, groups, or sectors? mr. malpass: within the world bank's process, there's substantial work given to esmg's. these are safety guardrails which help guard against corruption and poorly designed projects. there is a substantial process with any part of the world bank group to try to directly address the issue. of course, mistakes can be made and have been made in the past. so we are working constantly to try to correct those processes and move forward. one thing i will mention is the importance of anticorruption standards. the ohcp has standards in that regard and it would be good to have all countries and some of the major economies don't participate in those standards. that undercuts the effort. i will also mention, in general, transparency. that's in terms of debt contact -- contract. some not only have nondisclosure requirements on the creditor, but also the borrower. which is unusual but that has become the norm in recent years. we also want transparency and we encourage it in terms of the

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. ? >> 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 transfers have b

world bank. >> good afternoon and good evening to our viewers from around the world. welcome to our final public event at the world bank group. i am the bbc business anchor. i am delighted to be your host for this event, covid-19 vaccine for developing countries. a topic that is very much top of mind, as most of us have been affected in one way or another by this global pandemic. first, efforts the wrath of this pandemic, as my father passed away earlier this year. who would have thought a little over a year after the world health organization declared the pandemic that safe and effective covid-19 vaccines would already be used? still, great challenges remain. while the rollout of the vaccine in developing countries is critical to protecting lives, building human capital, and simulating economy recovery, the current crisis is exacerbating inequalities around the world. and without access to vaccines, the gap will widen further. ensuring developing countries can access, as well as safely distribute vaccines, calls for strong partnership and cooperation. over the next hour, we will be asking how developing countries are prepar

>> argentina is a member of the world bank group. we continue to watch that situation very carefully. the argentinian authorities have told us they want to move back to a more normalized relationship and begin borrowing from us. the impact in the region could be substantial. and again, we're very much hoping that some kind of agreement can be reached. >> last month, shinzo abe's government approved the strategy for growth. they pointed out the focus on economics on encouraging women to work is necessary to revitalize the japanese economy. >> i think it is exactly what needs to be done. if there is a huge unused resource in japan, it is the women in the work force. so it will require a pretty fundamental shift in culture. but i would say in that both as a president of the world bank and an an throw apologist, we've seen shifts happening in other places that happened fairly quickly where women became involved in the work force, much more quickly than anyone had expected. >> kim joined the symposium to investigate how they can help redu

the world bank group is the group that follows the poverty numbers. it. good night! >> and now, ladies and gentlemen, please welcome the u.n. secretary general ban ki-moon! [cheers and applause ] >> hello. what a beautiful crowd. solar power, wind power but i believe in an even stronger source of energy. people power! we have heard your voices tonight loud and clear. you are the generation that can end extreme poverty by 2030. i commit to change the world leaders to develop the most ambitious set of sustainable development goals. i commit -- i commit to bring your voices to the table. a better world is around the corner. >> you're watching msnbc's live coverage of the global citizen festival. up next, jay-z! >> the global citizen festival is brought to you by citi. we donate to the charities that you care about. ounds] the wait is over for even faster internet.

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