As the current review comes only two years after the conclusion of the 2018 capital increase, with the capital subscriptions process in the IBRD and IFC having just begun, we support the completion of the 2020 IBRD shareholding review at this stage with no realignment. Similarly, we support the completion of the IFC shareholding review without further analytical work.
Confronting these unprecedented challenging times requires dedication and strong discipline in the use of available resources. We thank President Malpass, and all W BG management and staff for their exceptional effort on the front lines of the response to the economic consequences of the pandemic. Flexibility in the use of budgetary resources has been instrumental in this endeavor.