WB/IMF Meetings in Marrakech Are “Historical” in MDBs’ Reform (EU Commissioner)

“I think that we can assess that these meetings which are taking place in Marrakech are historical also from that perspective and that the first steps of the reform of multilateral development banks have been taken here,” stressed Urpilainen in an interview with MAP, on the sidelines of her participation in this global meeting, which runs until October 15.

“In these meetings here in Marrakech, we are now able to have a new vision, new mission, and also the new playbook for the World Bank,” she explained, believing that this also paves the way for the low- and middle-income countries to have access to consensual financing.

For the European senior official, the two priorities of this reform are the eradication of poverty and the fight against climate change.

“We have to improve the resilience of our partner countries, especially the least developed countries, as well as low -middle income countries, which are the most vulnerable in terms of climate catastrophes and disasters,” she insisted.

“We have to be able to combine these two objectives. And that’s why we need to reform the World Bank, but also the global financial architecture. The European Union is supporting this objective,” she noted, adding that the European Union supports this objective.

The Annual Meetings of the World Bank (WB) and the International Monetary Fund (IMF) are "historical" in the process of reforming the Multilateral Development Banks (MDBs), said the European Commissioner for International Partnerships, Jutta Urpilainen.
13 October 2023