##mics, as well as the mapping of financing gaps. we support the wbg's renewed resolve to be a knowledge bank, one that is data driven. we highly value knowledge sharing and peer learning and suggest leveraging existing wbg knowledge hubs and building strong strategic partnerships. we reaffirm our commitment to this agenda, recognizing the compelling need to narrow inequities in access to knowledge and new technologies, particularly in africa. technical cooperation is fundamental to helping countries build institutions and infrastructures as a precondition for sustainable development. in this vein, central banks also play a role. one 1 / 3 bis - central bankers'speeches such infrastructure is a fast payments system ( fps ) that measures up to international technical and regulatory standards and is ready to be interlinked with fps in other jurisdictions. we commend management for the results achieved so far in implementing the g20 capital adequacy framework ( caf ) review, launched under the italian g20 presidency, and confirm our commitment to a full and effective adoption of the caf recommendations. it has already brought an increase in the ibrd's lending headroom to the order of $ 50 billion over a decade, and there is potential for further expansion. within the newly approved framework for financial incentives, some shareholders'commitment to providing extra resources through hybrid capital and the portfolio guarantee platform will bring further support to ibrd countries. the work to clarify call and payment procedures of existing callable capital will provide an important layer of assurance to investors and credit rating agencies and create more space for a further reduction of the equity to loan ratio. new resources should also originate from the hybrid capital with private investors and targeted efforts to attract more private capital into development projects. we need to work together on the g20 independent review on the operations of the vertical environmental and climate funds, with the aim to improve access and financial leverage of these funds. we believe that this will be best accomplished with a greater share of resources to be channelled through mdbs. the international development association ( ida ) must be at the center of the world bank agenda this year. we must work to ensure a successful ida21 replenishment, with an optimal mix of donor contributions, efficient use of ida internal resources, and effective deployment of funds. ida will be key to putting low - income countries back on a sustainable growth path and fighting extreme poverty on a livable planet. we need to strengthen our focus on the root causes of fragility.

to attract capital from the market and support economic activity. however, neither intermediaries nor central banks alone can create growth. in order to achieve a higher path of stable expansion, economic policies are needed that look beyond the one - year horizon of the government budget. setting out a systematic reform framework encompassing all the individual measures can in itself provide an expansionary boost by reducing the trust deficit, which weighs on government bond yields and private enterprise even more than the public finance deficit does. a return to enduring growth must be pursued in full respect of environmental, financial and social considerations. designed and printed by the printing and publishing division of the bank of italy