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Axel van Trotsenburg (@AxelVT_WB) is the World Bank’s Senior Managing Director (SMD), responsible for Development Policy and Partnerships.

Annual Meetings Chairman, Sergii Marchenko, Minister of Finance of Ukraine, World Bank President Ajay Banga, and Managing Director of the International Monetary Fund Kristalina Georgieva speak at the October 13th plenary session of the Annual Meetings in Marrakech, Morocco.

Good morning. Chair Marchenko, thank you for chairing this plenary. Mr. Kabbaj, Prime Minister Akhannouch, thank you for hosting these Annual Meetings. The road to Marrakesh was not an easy one, delayed by the pandemic and persevering after an earthquake. Yet the warmth and hospitality we’ve received from your government and all Moroccans has been humbling.

​It's easy to come up with neat numbers. But how do you make this happen? With so many countries in debt and fiscal distress, how are they expected to raise the additional $2 trillion a year that the expert group calls for when they will struggle even to maintain what they have, as Barbadian PM Mia Mottley and Kenyan President William Ruto emphasised?

As the confluence of war, hunger, economic turmoil, a global pandemic, and climate change pose a dire threat to global development, the World Bank is stepping up its support for countries in need.