Statement by Borge Brende at the 92nd meeting of the Development Committee held on October 10, 2015

This is a statement by Borge Brende, Minister of Foreign Affairs at the ninety-second meeting of the Development Committee held on October 10, 2015. He discusses that: the refugee crisis in the Middle East is a global challenge in need of a global response - much like global warming, global epidemics, and the global financial crisis. The World Bank Group’s (WBG’s) broad mandate, economic weight, and convening power translate into comparative advantages. There is urge and expectation that the WBG urgently put in motion its capacities and competencies, using all available tools including multi-year programs, to respond to the crisis. There is increasing recognition of infrastructure financing as vital for enhanced economic growth. Achieving the sustainable development goals (SDGs) by 2030 will require governments to reduce all human vulnerabilities, build resilience, and reduce the humanitarian needs of groups affected by protracted crises. Development and humanitarian actors must work jointly to reduce vulnerabilities. As regards the WBG’s capital resources, one should follow the steps agreed in the shareholding review; vision; and formula work by shareholders first. There is need to see a thorough analysis of WBG capital needs including links to International Development Association (IDA) reforms before one can support requests for further capital resources. Effective partnership between the United Nation (UN) and the WBG is key to promote sustainable international response and credible long-term goals in fragile and conflict-affected situations. The WBG must be fit for purpose in fragility, conflict, and violence (FCV) countries, as a key actor and partner in addressing the human tragedies.