David Malpass ,World Bank President said, “the World Bank collaborated with India to create a tailored social safety net”. He said, India is a digitalization pioneer, which strengthens and widens the social safety net.
What World Bank president, David Malpass said?
Malpass, during a conference, told reporters that India, like other developing countries suffers from rising interest rates, inflation and climate change as seen recently by the flooding impacts. But during the COVID-19 crisis, India was able to expand its social safety net.
According to Malpass, the nation’s poor have more money in their pockets thanshown by the World Bank’s most recent report on global poverty.
He noted that the efficiency of social safety nets is crucial when it comes to reducing poverty in other regions of the world. The World Bank collaborated with India to create a focused social safety net.
Malpass made reference to a recent conference at the UN that the World Bank and other organisations co-hosted. He claimed that digitalization strengthens the social safety net and is crucial for developing nations to keep up with technology. He claimed that India had been among the pioneers in this.
Malpass said there may be an emphasis on debt in response to a query about India assuming the G-20 leadership in December.
I believe we can make headway toward a more useful common framework at this time, he remarked.
What he claimed?
He claimed that India is a significant creditor in several of the indebted African nations, including Sri Lanka. Thus, he added, India has a chance there as the G-20 chair.
He added that India is aware of countries’ debt hardship and stated, “I’ve spoken with Prime Minister (Narendra) Modi about that.” Thus, he continued, it is very pertinent.
Malpass continued, “The second, I mention, is education, where India has been a leader in pushing forward. They used the data from learning Poverty Index. This shows a increase in educational poverty, at another significant conference on education that we co-hosted at the UN last week.”
What his words indicates?
According to him, this indicates that 70% of children in underdeveloped nations are unable to read the most basic text.
The G-20 has a great potential here, he remarked. This is a significant chance for G-20 India. He claimed that India has been a pioneer in education.
No doubt climate will be a key topic of discussion (in G-20). The World Bank will keep working to find the most effective ways to cut greenhouse gas emissions. As we observe it daily, this is a significant challenge for both the developed and developing worlds, he remarked.
The World Bank president emphasised the critical need of combating climate change for both India and the G 20 as a whole.