Ávarp utanríkisráðherra í þróunarnefndar Alþjóðabankans og Alþjóðagjaldeyrissjóðsins fyrir hönd Norðurlanda og Eystrasaltsríkja

Thank you chair and congratulations Kristalina on your new role.
 
With an uncertain global economic situation and immediate and long-term threats from climate change we must intensify our efforts to reach the goals and agreements we have commonly committed to, including the Sustainable Development Goals and the Paris Agreement. 

The World Bank Group is in a unique position to pull together all the strands of this agenda, and we expect the Bank to play a strong and systemic role moving forward. 
I want to highlight five issues:

First, the World Development Report underlines the importance of a rule-based trade system for global economic progress. We strongly support the call to strengthen multilateral cooperation in governance and institutions supportive of open and fair trade. While global value chains can continue to boost growth and reduce poverty, equitable distribution of gains and environmental sustainability must be ensured.

Second, there is an urgent need to respond to the immense growth prospects of the labour force in low income countries. Through the Jobs and Economic Transformation agenda the Bank has to support countries in the transition to green and inclusive economies with more and better jobs. Mobilizing the private sector and harnessing new technologies is crucial. 

Third, more and better investments to improve education, health and social protection should be a priority, especially in low-income and fragile countries. We welcome the achievements in the Human Capital project to date and the proposed next steps. We stress that intensifying investments in sexual and reproductive health and rights is key to this agenda and to fully reap the demographic dividend.

Fourth, IDA (International Development Association) maintains its central role in supporting the poorest countries, addressing fragility and ensuring that no one is left behind. One of our biggest tasks ahead is to reach a successful Replenishment of IDA19. We support the proposed approach to review the IDA voting rights system and we highlight that it needs to be fair, equitable and fit for purpose.

Fifth, gender equality is fundamental to achieve inclusive and sustainable development. It is long overdue that we close gender gaps with policies and actions for women’s empowerment and full economic participation.

The Bank is a cornerstone of a multilateral system that has contributed to deliver global growth and stability over the last seven decades. We call on the Bank, and its member states, to continue providing the necessary political and financial support to help deliver the multilateral solutions we all need.

Finally, all this may be for little unless we can make progress in addressing the many threats posed by climate change. The Bank must continue its leadership so we can jointly achieve the targets as set out in the Paris Agreement.