Chapter News

EU at the 2020 Annual Meetings of the IMF and the World Bank

Several senior EU representatives are participating to the 2020 edition of the Annual Meetings of the World Bank and the International Monetary Fund (October 5-23), which are held virtually due to the COVID-19 pandemic.

European Commission Executive Vice President Valdis Dombrovskis speaks at two high-level climate and sustainable finance events. On October 12, he joined the Fourth Ministerial-Level Meeting Coalition of Finance Ministers for Climate Action. He will also speak alongside IMF Managing Director Kristalina Georgieva and other counterparts at the event celebrating the first anniversary of the International Platform for Sustainable Finance (IPSF) on October 16 (event livestreamed by the IMF at 10am ET here(link is external)). The IPSF works towards improved transparency in global markets for sustainable finance to unlock financial resources for a green recovery from the Covid-19 crisis.

Executive Vice-President Dombrovskis will also participate in the Institute of International Finance (IIF) Annual Membership meeting and represent the EU at the International Monetary and Financial Committee plenary (IMFC) on October 15.

The European Commissioner for International Partnerships, Jutta Urpilainen, participated in a High-level Ministerial Meeting on Sahel, Economic Challenges from the security crisis in the Sahel on October 8, a High-Level discussion on Mobilizing with Africa II on October 9, and a meeting on Governance of COVID-19 Emergency Financing on October 12. She will also participate to the Development Committee Meeting on October 16 and to a discussion on a Resilient Recovery from COVID-19 in Fragile Settings on October 19. The Commissioner will promote a global recovery that links debt relief and investment to SDGs and the Paris Agreement.

The European Commissioner for the Economy, Paolo Gentiloni, participates in the G20 Finance Ministers and Central Bank Governors meeting on October 15. In addition, Commissioner Gentiloni will speak at a panel discussion on fiscal policy in Europe and the United States hosted by UBS and the Reinventing Bretton Woods Committee, also on October 15.

The European Commissioner for Budget and Administration, Johannes Hahn, will be speaking at an event, together with Managing Director of the European Stability Mechanism (ESM) Klaus Regling, and European Investment Bank (EIB) Vice-President Ambroise Fayolle, organized by DZ Bank and the Official Monetary and Financial Institutions Forum on Europe’s sustainable recovery on October 15.

The European Commission Directorate-General for International Cooperation and Development (DEVCO) organized a discussion on Sustainable Transformation of Societies: A Green Consensus for Macro-Fiscal Policies on October 9, which featured Environment Commissioner Virginijus Sinkevičius and aimed to galvanize support for a new consensus within the Bretton Woods institutions and to advise partner countries to pursue an equitable, resilient, green and sustainable recovery.

Finally, EIB President Werner Hoyer and Vice-Presidents Ambroise Fayolle and Lilyana Pavlova will lead the EU Bank’s delegation at the Annual Meetings. EIB leadership and experts will discuss how to best respond to the COVID-19 pandemic worldwide, while supporting a green recovery. They will highlight the importance of multilateralism as a response to global challenges, including gender equality and women’s economic empowerment. Learn more on the EIB’s participation here.

Compliments of the Delegation of the European Union to the United States.