Statement by H.E. Reinette Klever at the 110th Meeting of the Development Committee held on October 25, 2024 (English)

This is a statement by H.E. Reinette Klever at the 110th Meeting of the Development Committee held on October 25, 2024. At the October 2023 Annual Meeting, governors agreed that addressing global challenges is essential to reducing poverty and boosting shared prosperity. In the months since, a lot of important steps have been taken and milestones have been achieved, as outlined in the DC Paper for the current Annual Meeting. To become a Bigger Bank, the World Bank Group ended FY24 with a record high of USD 132.8 billion in new commitments, reflecting both the deep challenges and opportunities the world is facing. Moreover, balance sheet optimization measures and support from shareholders, through hybrid capital and portfolio guarantees, laid the foundations for the Bank to grow lending capacity by an additional USD 120 billion over the next decade.