We welcome progress in leveraging IDA equity, which will enable the Bank to both target scarce concessional financing to the poorest IDA clients and increase allocations of non-concessional resources to countries at a more advanced stage of development, in line with the different needs and capacities of IDA’s evolving client base.
*  *  *  Ladies and Gentlemen After a comprehensive address by the Governor, I will not have much to add to what he has said. But, what I would do is to brief you about the salient features of the Memorandum of Understanding.