WORLD BANK / MALPASS UKRAINE

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12-Apr-2022 00:04:51
In a speech delivered ahead of the World Bank Group Spring Meetings, World Bank Group President David Malpass announced a $1.5 billion package of funding for Ukraine to support the continuation of essential government services during the war, including $1 billion of International Development Association (IDA) 19 support. WORLD BANK

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STORY: WORLD BANK / MALPASS UKRAINE
TRT: 4:51
SOURCE: WORLD BANK GROUP
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LANGUAGE: ENGLISH / NATS

DATELINE: 12 APRIL 2022, WARSAW, POLAND
SHOTLIST:
1. Wide shot, SGH Warsaw School of Economics, exterior
2. Med shot, audience, SGH Warsaw School of Economics
3. SOUNDBITE (English) David Malpass, President, World Bank Group:
“I’m pleased to announce today that the World Bank is currently preparing a $1.5 billion operation for Ukraine to support the continuation of essential government services during the war. This was enabled by yesterday’s approval of IDA19 support of $1 billion to Ukraine and $100 million to Moldova by IDA donor and recipient countries.”
4. Med shot, audience, SGH Warsaw School of Economics
5. Various shots, SGH Warsaw School of Economics, exterior
6. SOUNDBITE (English) David Malpass, President, World Bank Group:
“Trillions of dollars of debt and capital are being guided by advanced governments to over-capitalized sectors, harming growth, supply chains, jobs, and median incomes. The result is deepening inequality through the massive misallocation of global capital away from small businesses, working capital and development. I call on the governments and central banks of the advanced economies to alter fiscal, monetary, and financial regulatory policies that are concentrating wealth and income, misallocating capital, and fueling inflation.”
7. Med shot, audience, SGH Warsaw School of Economics
8. Various shots, SGH Warsaw School of Economics, exterior
9. SOUNDBITE (English) David Malpass, President, World Bank Group:
“The war in Ukraine and the COVID-19 lockdowns in China are further reducing the recovery path. Of concern, the repercussions are worsening the inequality as the war affects commodity and financial markets, trade and migration linkages, and investor and consumer confidence. Advanced economies with well-developed social protection systems are cushioning parts of their populations from the damage from inflation and trade blockages, but poorer countries have limited fiscal resources and weaker systems to support those in need.”
10. Med shot, audience, SGH Warsaw School of Economics
11. Various shots, SGH Warsaw School of Economics, exterior
12. SOUNDBITE (English) David Malpass, President, World Bank Group:
“The war in Ukraine and its consequences are also creating sudden shortages of energy, fertilizer, and food, pitting people against each other and their governments. Even people who are physically distant from this conflict are feeling its impacts. Food price spikes hit everyone and are devastating for the poorest and most vulnerable. For every one percentage point increase in food prices, 10 million people are expected to fall into extreme poverty. The rich can afford suddenly expensive staples, but the poor cannot. Malnutrition is expected to grow, and its effects will be the hardest to reverse in children.”
13. Wide shot, SGH Warsaw School of Economics, exterior
14. Med shot, audience, SGH Warsaw School of Economics
15. SOUNDBITE (English) DAVID MALPASS, World Bank Group President:
“Most emerging market and developing economies are ill-prepared to face the coming debt shock. Exposures to financial sector risk are opaque at this point, but one measure, the cost of insuring against default in emerging markets, has reached its highest point since the onset of the pandemic.”
16. Med shot, audience, SGH Warsaw School of Economics
17. Various shots, SGH Warsaw School of Economics, exterior

STORYLINE:
In a speech delivered ahead of the World Bank Group Spring Meetings, World Bank Group President David Malpass today (12 Apr) announced a $1.5 billion package of funding for Ukraine to support the continuation of essential government services during the war, including $1 billion of International Development Association (IDA) 19 support.

Malpass warned that the war in Ukraine and the COVID-19 lockdowns in China are further reducing the recovery path for developing countries and said that most emerging market and developing economies are ill-prepared to face the coming debt shock.

He said that inequality is worsening as trillions of dollars of debt and capital are being guided by advanced governments to over-capitalized sectors and called on advanced economy governments and central banks to alter the fiscal, monetary, and financial regulatory policies that are concentrating wealth and income, misallocating capital, and fueling inflation.
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WORLD BANK
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