Economics & Development

This statement, delivered by Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance of Thailand, representing the constituency of Brunei Darussalam, Fiji, Indonesia, Lao PDR, Malaysia, Myanmar, Nepal, Singapore, Thailand, Tonga, and Vietnam, to the 113th Meeting of the Development Committee on April 16, 2026, reflects on the profound structural forces reshaping the global development landscape, including geopolitical fragmentation, technological disruption, and a growing jobs deficit. It affirms that these challenges require ambitious, coordinated, and forward‑looking responses, and recognises the World Bank Group as an institution actively evolving to meet this moment. The statement places particular emphasis on the jobs agenda, welcoming the shift toward a shared framework focused on creating more and better‑paid jobs, improving job quality, and closing growing employment gaps in developing economies. It highlights strong institutional performance over the past year, including record private capital mobilisation, expanded guarantees, and a successful IDA21 replenishment, as evidence of continued international confidence in multilateral development finance. The statement further welcomes new and forthcoming strategies on water security, small states, energy, digital transformation, and fragility, while stressing the essential role of client country voice. It underscores the transformative potential of artificial intelligence when combined with reskilling and inclusion, raises concerns regarding the position of middle‑income countries within the development architecture, and calls for a stronger Knowledge Bank and more nuanced graduation frameworks. The statement concludes by reaffirming inclusive governance, effective accountability, and multilateral cooperation as essential to shared prosperity, resilience, and sustainable development, with Thailand committed to advancing this ambition as host of the 2026 Annual Meetings.

This statement was delivered by H.E. Nadia Fettah, Minister of Economy and Finance of the Kingdom of Morocco, on behalf of a constituency comprising Afghanistan, Algeria, Ghana, Iran, Libya, Morocco, Pakistan, and Tunisia, at the 113th Meeting of the Development Committee on April 16, 2026. Minister Fettah opened by framing the current moment as one of heightened global economic uncertainty, driven by geopolitical tensions and trade disruptions whose pass-through effects on fuel prices continue to disproportionately burden the poor and vulnerable. While expressing support for the World Bank Group's long-term development agenda, she urged the institution to complement it with immediate, short-term measures to mitigate emerging social and economic crises and strengthen resilience. The centerpiece of the statement is the constituency's strong endorsement of quality employment as the cornerstone of sustainable poverty reduction. The group reaffirmed its support for the World Bank's three-pillar framework for job creation, calling for better regulation that is clear, predictable, and fairly enforced. The statement identifies several foundational conditions for a successful jobs agenda: sound macroeconomic management, the rule of law, the removal of legal barriers to women's economic participation, and digitalization as a key enabler. Recognizing that no single policy model applies universally, Minister Fettah advocates for differentiated support to microenterprises and small firms, including simplified registration processes and flexible financing instruments. Priority sectors identified include agribusiness, energy, health, and tourism, with an emphasis on balancing climate mitigation with adaptation objectives. The statement also stresses the importance of the World Bank's Knowledge Bank role, calling for two-way learning that draws on client countries' own practical experiences, and highlighting implementation capacity and institutional weakness as persistent constraints requiring targeted attention. On governance, the statement endorses the conclusions of the 2025 Shareholding Review, affirming the Dynamic Formula and the Lima Principles as instruments that help preserve the voting power of smaller and poorer nations. Minister Fettah calls for continued discussions after April 2026 to address the complexities some countries face in completing capital subscriptions related to the 2018 IBRD and IFC capital increases. She also welcomes efforts to strengthen board representation and deepen engagement with Global South think tanks through programs such as the Voice Secondment Program. The statement concludes by commending President Ajay Banga's leadership on the jobs agenda and calling for sustained momentum and decisive, coordinated action to deliver more, better-paid, and productive employment opportunities, anchored in country ownership and scaled for meaningful impact.

This communiqué of the one hundred and fifteenth meeting of the Ministers of the Intergovernmental Group of Twenty‑Four (G‑24), held on April 14, 2026, conveys deep concern over escalating geopolitical conflicts and their severe human, economic, and development consequences, particularly for emerging market and developing economies. The G‑24 highlights the war in the Middle East as a major new shock to an already fragile global economy, disrupting energy markets, supply chains, and trade routes, increasing inflationary pressures, tightening financial conditions, and heightening food and debt vulnerabilities in oil‑importing and low‑income countries. The communiqué underscores the urgent need to safeguard maritime routes, protect energy infrastructure, and uphold a rules‑based international system grounded in respect for sovereignty and the UN Charter. It stresses the importance of a strong Global Financial Safety Net, calling for timely completion of IMF quota reforms, strengthened surveillance, flexible lending tools, increased concessional financing, and exploration of regular SDR issuances. The G‑24 reaffirms the critical role of the World Bank Group in accelerating job creation, infrastructure investment, industrial development, and climate action, while urging faster progress on balance‑sheet optimization, innovative financing instruments, and governance reforms under the Lima Principles. It emphasizes the need for timely and predictable debt restructuring, scaled‑up climate finance aligned with equity and common but differentiated responsibilities, strengthened domestic resource mobilization, reversal of declining ODA, and a recommitment to fair, open, and non‑discriminatory multilateral trade. Collectively, the communiqué calls for decisive multilateral action to protect development gains, restore confidence, and promote inclusive, sustainable growth.