Toespraak minister Kaag bij de Wereldbank (voorjaarsvergadering)

Toespraak | 23-04-2018

President Kim, first of all I would like to commend the World Bank leadership and the Executive Board to have managed such a consensual process. That has actually produced a result. And the result is indeed the package that we’re looking at.

We all agree the World Bank Group is in need of fresh capital. It’s in keeping with the times, the agenda and the ambition that we share. A bigger Bank will match the challenges that we face. And a bigger Bank will also match and respond effectively to the goals we have set and agreed to, in particular the SDGs.

In the past it has often taken an economic crisis to rally us together to be united. But fortunately we’ve built on what the IMF calls ‘synchronized global growth’ to actually look ahead, lean in and lean forward to see how we can promote inclusive, green development and also prevent conflict. Truly connecting the policy dots, in a very synchronized way.

We think that this capital package, this SDG package, will make the Bank greener, leaner and meaner in a good way, given its climate ambition, but also focusing on the reduction of bureaucratic wastage. Focusing on efficiency and effectiveness gains. This can only be a plus.

We also welcome very much the gender target for the IBRD, and we believe that this package therefore will help make development even more work for women and girls.

With capital infusions for both the IBRD and the IFC, we’re in no doubt that development is truly everyone’s business. That message alone has value, but of course crowding in the private sector is another new opportunity, which we all discussed in the last two days.

It’s on all of us, the Bank’s leadership but also the shareholders, to put this capital to work in a smart manner and deliver collectively on the policy commitments. For a bigger Bank and a better Bank. We however want the Best Bank, with a capital B. So no time to rest on our laurels, the world outside will not permit us. The clock is ticking. For us it’s reforming, performing and transforming. All in one, in a triangular manner.

There are a few areas that require from our perspective continued attention. Reforming the Inspection Panel. We would also like to look at how you will work better in fragile states, boosting field presence and building on the recommendations and implementation of Pathways for Peace, the recent joint UN and World Bank prevention study.

And lastly, transforming economies. The opportunities and risks that technological change offer need to be embraced and looked at. With a view to help societies and economies adapt, but also look at mitigation.

With all development ahead we can change the world. The world will undoubtedly change us. I’m looking forward to do this together, through this capital package. It’s a joint responsibility and accountability.

Thank you.