Minister Sajjan concludes participation in productive International Monetary Fund and World Bank Group Spring Meetings in Washington, D.C.
April 25, 2022 - Ottawa, Ontario - Global Affairs Canada
The global community is dealing with multiple crises at once: the ongoing COVID-19 pandemic, drastic changes in climate and more and more extreme weather events, increasing conflict and violence, and financial pressures—including global food prices that have increased 30% since January.
On top of this, Putin’s illegal and unjustifiable invasion of Ukraine is causing loss of life and destruction, with spillover effects of high food and energy prices, a refugee crisis and political instability. Canada condemns in the strongest possible terms Putin’s invasion of Ukraine.
The vulnerable, particularly the Global South, are most affected by the convergence of these crises. Health care systems are overburdened. Homes and livelihoods are being destroyed. Extreme poverty and hunger are surging. Violence and conflict are increasing worldwide.
To address these challenges, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada, participated in the 2022 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (World Bank). During these meetings, the Minister advanced Canada’s priorities within the frame of the Feminist International Assistance Policy.
Minister Sajjan’s engagement included hosting, alongside Senegal and the World Bank, the Global Financing Facility (GFF) resource mobilization event, bringing together developing countries, donors, foundations and civil society in support of the health of women, children and adolescents. At this event, Minister Sajjan announced that Canada is providing an additional $40 million in funding in support of the GFF’s “Reclaim the Gains” campaign.
The Minister also chaired a round table with Caribbean ministers and leaders from the World Bank, the Global Environment Facility, the Climate Investment Funds and the Adaptation Fund to discuss climate risks facing Small Island Developing States and to consider bold solutions to address the devastating impacts of climate change.
Minister Sajjan joined a panel at the Accelerating Action for Food Security and Resilience side event, convened by the World Bank and Germany during its G7 presidency. This discussion focused on mounting food insecurity, pressures on the global humanitarian system and the need to build long-term resilience of food systems.
The Minister also spoke at an event organized by the Climate Investment Funds and Foreign Policy magazine. The panel exchanged ideas on how private capital can be mobilized to spur climate action and a just transition in developing countries in a context of geopolitical uncertainty.
Finally, Minister Sajjan held bilateral talks with donor counterparts, developing country partners, World Bank management and other key interlocutors, helping Canada deliver on its development assistance agenda.
“While at the IMF and World Bank meetings, my colleagues and I spoke about how Russia’s unjustifiable invasion of Ukraine has caused the biggest shock to global food systems since 2010. Because of Vladimir Putin’s actions, more people in more countries are going hungry, especially girls and women, who invariably eat last and eat least. By working together with the IMF and the World Bank, we can come together with a comprehensive and swift response to ongoing crises worldwide, from Afghanistan to Ukraine, and build a more equitable global system.”
- Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada
The Spring Meetings of the IMF and the World Bank are a crucial event that brings together the global community to advance prosperity, stability and progress toward the Sustainable Development Goals.
Held each April, the meetings typically convene thousands of participants, including finance ministers, development ministers, central bankers, private sector representatives, development experts and civil society organizations.
Deputy Prime Minister and Minister of Finance Chrystia Freeland, Canada’s Governor to the IMF and World Bank, participated in the Spring Meetings. She attended meetings with the IMF, World Bank, G7, G20 and Financial Action Task Force, and met with international counterparts on a range of issues, including taking further action to support Ukraine and continuing to help the world’s most vulnerable countries recover from the COVID pandemic.
- Deputy Prime Minister to attend Spring Meetings of the IMF and the World Bank in Washington, D.C.
- Leaders respond as multiple crises threaten women and children’s health in world’s poorest countries – and warn further investment needed
- International Monetary Fund and World Bank Group Spring Meetings
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