##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.

strengthening institutions and developing a pluralistic and competitive local private sector will greatly contribute to mitigating instability and preparing countries to transition out of conflicts and fragility. ida should deploy its suite of analytical and financing tools for conflict prevention and remain engaged during conflicts. overall, we reaffirm the recommendations that we have laid down in the non - paper on fragility, conflict and violence in ida21, together with other donor countries and the africa, eca, mena and lac ( haiti ) borrowers'representatives. job creation and business development across ida countries is our north star in improving local opportunities, especially for the young. this should mitigate the drivers of forced migration, while continuing to improve regional infrastructures, food security, access to energy and health systems and pandemic preparedness. the international finance corporation ( ifc ), working together with ida, should allocate additional resources to better support local companies and business associations. the most recent caf measures for ida allowed us to smooth out the financial implications of earlier frontloading, while also strengthening capital for the next cycles. we look forward to future work to enhancing development impact and further optimizing ida's balance sheet. 2 / 3 bis - central bankers'speeches our constituency appreciates the central role of africa and the partnership built around ida. italy has embraced this same spirit with the mattei plan, a renewed approach to development cooperation that revolves around the gradual agreement of goals and targets co - designed with african countries. it will be rolled out in synergy with international partners, in the areas of education and training, agriculture, health, energy and water. to embark on a path of sustainable growth, the african continent should also play a stronger role in clean energy products'global supply chains. italy fully supports the " resilient and inclusive supply - chain enhancement " ( rise ) initiative, launched in october 2023, including with a financial contribution. italy will work closely with the world bank to ensure a swift implementation of rise during its g7 presidency. above all, a successful ida21 replenishment requires a collective effort from all – donors, borrowers and management. the italian g7 presidency is actively supporting and coordinating this effort. 3 / 3 bis - central bankers'speeches