India can lead G20 on education, climate and debt sustainability: World Bank President

According to World Bank President, David Malpass, “Debt sustainability, education and climate action are three areas of potential for India when it takes on the presidency of the Group of Twenty (G20) in December this year.”

“I think the world is at a point where there can be progress made for a more effective common framework,” he said, highlighting the fact that India is a creditor for Sri Lanka and also some of the “heavily indebted countries of Africa”. India has provided some $4 billion in assistance to Sri Lanka this year and is involved with restructuring its debt.

The World Bank’s president said there had been a very concerning increase in education poverty with 70% of children in developing countries unable to read the basic texts and that India could play a leadership role in education. He went on to describe the backsliding in education caused by COVID-19 school closures, including children losing interest because they could not keep up with their grade/class, and the decline in educational spending.

“For India’s G20, this is a big opportunity. India’s been a leader in education,” Mr. Malpass said, adding that climate too would be a major focus, as advanced and developing countries work on reducing greenhouse gas emissions.