A World Free of Poverty on a Livable Planet
The 2023 World Bank Group-IMF Annual Meetings brought together leaders, finance ministers, civil society groups, and experts to discuss issues such as climate change, gender equality, digital inclusion and international trade.
Addressing Global Challenges
The 2023 WBG-IMF Annual Meetings provided an opportunity for the international community to stand by Morocco and its people, who have once again shown resilience in the face of tragedy.
During the meetings, IFC leadership and staff met with delegates and donors to strengthen existing relationships, recognize our collective progress, and push for new solutions to development challenges.
While the prevailing global headwinds mean that we have daunting challenges ahead of us, working to address them remains our priority. The private sector will be a key driver in this. By de-risking investments within frontier markets through vehicles such as the Private Sector Lab, growth can be encouraged where it is needed most. Despite a record year for IFC climate change investments, more still needs to be done and strong private sector support will be key to this.
The next stop on the journey will be the COP28 meetings in Dubai from November 30th to December 12th.
The #digitaldivide hinders development. In fiscal year 2023 alone, IFC invested $2.2b for affordable connectivity to bridge the gap. Learn more at the #WBmeetings. https://t.co/GWIuPEggap pic.twitter.com/MGNOuChPks
— IFC (@IFC_org) October 13, 2023
Building Foundations for an Inclusive Digital Future
Access to digital tools and online resources is increasingly vital, yet in 2022, almost 3 billion people lacked basic digital access, 1.4 billion were without bank accounts, and 850 million lacked official identification, primarily in developing countries.
To accelerate digitalization, public and private sectors need to invest, innovate, and collaborate. Enhancing broadband connectivity, digital infrastructure, and digital skills is crucial for global economic participation. This event at the 2023 Annual Meetings discussed these challenges and the need for an inclusive digital future.
Ursula Owusu-Ekuful, Minister of Communications and Digitalisation, Ghana speaks at the event. Photo: World Bank / Aymane Maalal
Ursula Owusu-Ekuful, Minister of Communications and Digitalisation, Ghana speaks at the event. Photo: World Bank / Aymane Maalal
Spectators at the event watch on. Photo: World Bank / Aymane Maalal
Spectators at the event watch on. Photo: World Bank / Aymane Maalal
Harnessing Institutional Investment and Finance for Development
Amid global economic uncertainty and escalating crises, it's crucial for global finance to support the Sustainable Development Goals (SDGs). Unfortunately, only a tiny fraction of the massive $400 trillion held by private financial institutions goes into emerging markets and developing economies.
This event, which was led by IFC and global investors, aimed to address how we can attract more private sector investment and expand viable projects in these regions. Bridging the gap between private capital and the urgent funding needs of developing countries, accelerating progress towards the SDGs despite economic uncertainty and global crises.
Today’s development challenges are enormous. With public resources stretched, private capital is essential to achieving the world’s development goals. Learn about how IFC mobilizes private capital. https://t.co/WTbjTpJpOb #WBmeetings pic.twitter.com/ElRHGlMkRC
— IFC (@IFC_org) October 11, 2023
Moderator Rachelle Akuffo, Suni Harford, President of UBS Asset Management and IFC Managing Director Makhtar Diop with other panelists at the annual meetings 2023 event Harnessing Institutional Investment and Finance for Development. Photo: World Bank / Aymane Maalal
Photo: World Bank / Aymane Maalal
Participants interacting at the annual meetings 2023 event Harnessing Institutional Investment and Finance for Development. Photo: World Bank / Aymane Maalal
Photo: World Bank / Aymane Maalal
Two participants interacting at the annual meetings 2023 event Harnessing Institutional Investment and Finance for Development. Photo: World Bank / Aymane Maalal.
Photo: World Bank / Aymane Maalal
Delivery on the Ground: Country Action for A Livable Planet
With the climate crisis growing more pressing, global action is urgently required to meet the Paris Agreement's temperature and adaptation goals.
This event, which was co-hosted by the World Bank Group and the IMF, focused on key actions, including implementing climate policies at regional and national levels, strengthening climate information systems, and increasing climate investment. It explored innovative strategies for countries to enhance their quality of life by promoting low-carbon and resilient growth, engaging the private sector, and attracting more climate finance.
Moderator Lerato Mbele and UN Special Envoy for Climate Action and Finance Mark Carney at the annual meetings 2023 event Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Moderator Lerato Mbele and UN Special Envoy for Climate Action and Finance Mark Carney at the annual meetings 2023 event Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Participants at the annual meetings 2023 event Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Participants at the annual meetings 2023 event Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Spectators at the Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Spectators at the Delivery on the Ground: Country Action for A Livable Planet. Photo: World Bank / Franz Mahr
Engaging Women as Leaders: Innovation, Financing and Collective Action
Gender equality is a pressing global priority and both a moral imperative and economic necessity.
The 2023 Annual Meetings provided a platform to discuss innovative approaches for achieving gender equality and women's economic empowerment.
This event explored ways that the public and private sectors can both collaborate to enhance women's economic opportunities, engage women as leaders in addressing global challenges, and foster partnerships to remove barriers and advance women's empowerment.
It's a crucial step toward creating a more equitable and prosperous world.
Moderator Rachelle Akuffo and Anna Bjerde, Managing Director of Operations, The World Bank, in discussion at the event. Photo: World Bank/ Rachid Bouzidi
Photo: World Bank/ Rachid Bouzidi
Panelists getting ready for discussion at The 2023 Annual Meetings event Innovation, Financing, and Collective Action. Photo: World Bank/ Rachid Bouzidi
Photo: World Bank/ Rachid Bouzidi
Unleashing the Potential of the Creative Industries
The creative industries are gaining increasing recognition from policymakers and private investors as a driver of growth and a source of employment for the young, innovative, and fast-growing populations in emerging markets. But industries such as audiovisual media, music, and fashion, are not yet fulfilling their full potential when it comes to creating jobs and providing new opportunities for people, in particular women.
This event, which was co-hosted by IFC and Mohammed VI Polytechnic University (UM6P) explored the impact and challenges of promoting creative industries in emerging markets, with leading voices and artists from Africa and beyond.
Unlocking creativity for a brighter world! Wonderful afternoon delving into the power of creative industries in global development. The sector generate over $4 billion annually in Africa. A great reservoir of talent and jobs, particularly for young people. pic.twitter.com/KLV33Ob4rB
— Makhtar Diop (@Diop_IFC) October 14, 2023