The 114th meeting of the joint World Bank Group (WBG)-International Monetary Fund Development Committee was convened in Bangkok, Thailand on Oct 15, 2026. The meeting reviewed two reports: Private Capital Mobilization and Jobs, and the Report to Governors on the 2025 Shareholding Review. The meeting was chaired by Elisabeth Svantesson, Chair of the Development Committee and Sweden’s Minister for Finance. Attendees included Development Committee members representing 25 constituencies, President of the WBG Ajay Banga, International Monetary Fund Managing Director Kristalina Georgieva, and World Trade Organization Director-General Ngozi Okonjo-Iweala, among others. 

Lan Fo’an, China’s Minister of Finance and China’s Governor at the WBG, attended the meeting and delivered remarks. He was accompanied by Liao Min, Vice-Minister of Finance and Alternate Governor for China at the WBG, and Chang Junhong, Assistant Minister of Finance. 

Lan said that the current international situation was marked by intertwined turbulence and uncertainty, geopolitical conflicts continued to spread, and global economic growth lacked momentum. As one of the world’s most influential multilateral development institutions, the WBG should better fulfill its countercyclical role, further enhance its development financing capacity, and help member countries address global development challenges. It should accelerate the shift to a global capital mobilization platform, develop innovative development financing tools, and leverage more private capital to support the development of the private sector in member countries. It should also adapt to changes in the global economic landscape, improve its governance structure, address the severe under-representation of some members, and enhance the representation and voice of developing members. China, as a major shareholder and important development partner of the WBG, stands ready to continue deepening mutually beneficial cooperation with the WBG, effectively implement the new Country Partnership Framework, and transform cooperation to provide more public goods for global poverty reduction and development. 

He emphasized that since the beginning of this year, China’s economy has forged ahead steadily despite pressure, with growth driven by new momentum and the economic structure continuing to improve. The consumer market has expanded steadily, and imports have grown relatively rapidly, injecting valuable certainty into a world facing growing uncertainty. Looking ahead, China will continue to promote high-quality development, expand high-standard opening-up, and implement the Global Development Initiative, sharing opportunities and pursuing common prosperity with countries around the world.