NEW YORK, -- Building resilience for the world's most vulnerable people by reducing poverty, promoting shared prosperity, enhancing food security, and sustaining peace in crisis-affected situations will be the focus of a new partnership framework agreed to by the United Nations and World Bank.
According to a joint statement, the framework, signed by UN Secretary-General Antonio Guterres and World Bank Group President Jim Yong Kim, is in response to global calls for the two institutions to work more closely on prevention and reducing needs, risks, and vulnerability, as the world faces a spike in violent conflicts.
The Secretary-General has been at World Bank headquarters in Washington, D.C. for the past two days for the Spring Meetings convened annually by the Bank and the International Monetary Fund (IMF). They bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, such as the world economic outlook, poverty eradication, economic development, and effectiveness of aid.
The UN and World Bank noted that human and economic costs of conflicts are massive, affecting long-term stability and prospects for economic development and poverty reduction. Violent conflict drives 80 per cent of the costs of humanitarian needs, with the UN estimating that $22.1 billion is required in 2017 for humanitarian assistance � a sharp increase from the $9 billion needed just five years ago.
Under the framework agreed to today, the UN and World Bank will work in complementary ways to reduce the multi-dimensional risks of crisis and help prevent violent conflict; develop joint analyses and tools for more effective solutions; coordinate support to address protracted crises, including forced displacement; and scale up its impact by leveraging financing.
Source: Emirates News Agency