With all the many challenges facing countries around the world, Siri Scanlon, Partner at C3 Investment Group, inquired about the World Bank’s priorities. For David Malpass, President of The World Bank Group, improving education and health is crucial, as is developing better structural and regulatory systems within countries. Scanlon noted that the pandemic resulted in follow-on effects that now need remedy. Malpass agreed, highlighting reversals in non-COVID vaccination rates and education.
Malpass also examined the unsustainable debt burden in developing countries, which he cited as a particularly worrying trend. Supply chains are not yet rebounding and there is not enough investment to raise productivity levels. Malpass noted also that world dynamics have changed in the face of Russia’s war and continuing signs from China. Food insecurity remains a major global issue, and Malpass implored the world to redouble its efforts to develop a more robust supply. Malpass ended the discussion with a story about an innovative approach in South Africa to encourage Black Rhino conservation efforts that led to increased herd sizes and profits for financial investors.
“Development needs are specific to respective countries. The World Bank aims to achieve good outcomes in terms of living standards, including raising median incomes.”
David Malpass, President, The World Bank Group
“We might be in this situation where we face really adverse follow-on effects as a result of losing three years.”
Siri Scanlon, Partner, C3 Investment Group and Concordia Senior Advisor