project standardization and securitization will contribute to attracting investors and accelerating the wbg's portfolio turnover, thus making capital more efficient. the poorest countries are facing the greatest hardships, and 700 million people worldwide are still trapped in extreme poverty. it is our duty to help them overcome challenges and build a more equitable future. as the largest international development fund in the world, ida has a major responsibility to help low - income countries return to the path of recovery and sustainable growth, as well as transition out of conflicts, poverty, and deprivation. this year, ida21 negotiations are creating a new architecture in order to better integrate ida into a one wbg and strengthen its alignment with the evolution agenda. ida must continue to be centered on concessional financing, meaningful policy commitments, and result - oriented targets. 2 / 4 bis - central bankers'speeches at this crucial juncture, we are committed to ensuring that ida remains the largest and most impactful partnership between borrowers – at different income levels – and donors. highly concessional resources are a vital source of financing for low - income ida countries, especially those lacking significant access to capital markets. at a time of heightened debt vulnerabilities, higher interest rates, and lower fdis, this is even more important. we should collectively deploy all efforts to mobilize adequate concessional finance for ida21. in this collective effort, the rule - based formula to increase ibrd transfers under better financial conditions and higher incomes – agreed upon in 2018 – is playing a crucial countercyclical role, and it should make shareholders proud of the ibrd's increased role among the key contributors to ida. the 2018 agreement remains a sign of solidarity and mutual responsibility for a poverty - free world. we also commend the further efforts of ida itself to stretch its own balance sheet with new caf measures. these measures allow for more efficient deployment of resources belonging to ida beneficiaries. we support their full engagements in this decision to best calibrate the appropriate balance between the degree concessionality and volumes, should a trade - off emerge. our ultimate goal is to spur long - term development through an effective ida21. the ida model is well tested in delivering complex and transformative projects in key sectors, based on country ownership. mission 300, in partnership with the african development bank, is an excellent model for using ida resources through regional multiphase approaches, building partnerships and – together with ifc and miga – mob

denis beau : emerging technologies in financial services opportunities and challenges speech by mr denis beau, first deputy governor of the bank of france, at the at the rbi @ 90 global conference on " digital public infrastructure and emerging technologies ", bengaluru, 26 august 2024. * * * good afternoon ladies and gentlemen, i am very pleased to speak today, at this event celebrating the 90th anniversary of the reserve bank of india. i would like to thank the organizers for providing me with the opportunity to speak about a major topic for central banks and supervisors today, that is : emerging technologies, their opportunities for the financial sector and the challenges they represent for us all. i would like to focus my remarks on two emerging technologies, which i believe may transform deeply financial services : tokenisation ( i ) and artificial intelligence ( ii ). 1. tokenisation of assets and payment services in the financial sector, the emergence of crypto - assets has paved the way for the tokenisation of finance. it allows the issuing, recording and exchange of financial assets in the form of digital tokens on dlt such as blockchain. such tokenisation has the potential to drive deep changes in the way our financial system works. these potential changes present opportunities for market participants and the general public, as they could bring greater simplicity, transparency, effectiveness and speed while also lowering transaction costs of financial transactions. but they also raise challenges, especially for institutions such as the banque de france and rbi, whose mandate includes preserving financial stability. in this respect, we are, at the banque de france, guided by two convictions : 1. confidence requires a regulatory framework that is suitable, clear, sufficiently demanding and fair ; 2. central bank money ( cebm ) must remain at the heart of settlements between financial intermediaries, which are the most sensitive from a systemic perspective. as regards regulation, france blazed a trail in crypto - assets with the adoption in 2019 of the pacte act, which created the classification of digital asset services provider. europe's lawmakers have drawn heavily on the french framework. in 2023, the european union adopted its markets in crypto - assets ( mica ) regulation, a specific regulatory framework covering the issuance of crypto - assets and stablecoins and the provision of related services. mica's goal is to address the major risks to market integrity and provide greater protection to users. 1 / 4 bis - central bankers'speeches while mica represents a vital regulatory