Meeting between g7+ Ministers and the World Bank Senior Management Team

Apr 26, 2016

The g7+ group met with Dr. Jim Yong Kim, the World Bank Group (WBG) President, and his senior management on Saturday 16 April 2016 during the WB/IMF Spring Meetings 2016. The meeting, which takes place twice a year (at the Spring and Annual Meetings) between the g7+ group and the WBG senior management, provides a regular opportunity for both sides to discuss how better to address the challenges of fragility.

Issues discussed in the meeting included IDA 18 replenishment, implementation of the Sustainable Development Goals (SDGs) and support for the private sector. The g7+ eminent person and Minster of Planning and Strategic Investment of Timor-Leste, H.E. Xanana Gusmão (on behalf of the g7+ group) opened the meeting by informing the World Bank of the outcome of 4th g7+ Ministerial meeting, which took place in Kabul, Afghanistanin March. The g7+ stressed the importance of addressing the issue of the fragmentation of aid. The countries transiting through the different stages of fragility are making strides to achieve peace and resilience, and thus they need flexible and longer-term support. These countries need capable economic foundations to sustain peace by providing jobs and maintaining service delivery.

Recognizing the fact that the impact of fragility spills across borders, the WBG emphasized the concerted efforts to be made in addressing fragility at its root. They applauded the efforts of other development partners who are willing to allocate more resources to address development challenges in countries in fragile situations, in such sectors as infrastructure. They reiterated the WBG's commitment to enhance its support to private sector development in countries in fragile situations. The Bank committed to support the g7+ in implementing the SDGs. Considering the current challenges of mass migration and forced displacement, there is a strong case for a larger and more flexible IDA 18 package.The Bank called upon the g7+ to make its voice heard in the IDA18 negotiations. The g7+ secretariat and World Bank FCV team will further follow up on the outcomes of the meeting.

The g7+ secretariat also met with the IMF and WBG IFC teams to discuss progress on previously agreed tasks. During the meeting with the IMF team, the possibility of a high-level meeting between the g7+ and the IMF in the upcoming Annual Meetings was discussed.