and their families, but policymakers, regulators, nonprofit organizations, and financial service providers must all help ensure that consumers have the tools and the information they need to make better decisions. success can only come through collaborative efforts. i see much interest today in increased collaboration toward these objectives, both in washington and around the country. thank you for the opportunity to speak with you today. i encourage you to continue working together to help provide increased economic opportunity in your communities, and i wish you the best of luck in your efforts.

##ence and deliver significant fiscal and foreign exchange savings. achieving the target requires around 1. 3 billion dollars to upgrade power infrastructure, of which only 13 % has been pledged by donors so far. small island developing states ( sids ) like the maldives call on international financial 1 / 3 bis - central bankers'speeches institutions to provide easier and affordable climate finance for adaptation and mitigation on the principles of a just energy transition. while the imf's resilience and sustainability fund and the world bank's record 42. 6 billion dollars in fiscal year 2024 in climate finance are commendable. more is needed, especially for climate vulnerable sids. additionally, we must innovatively rethink and implement strategies to mobilize private sector investments. secondly, debt sustainability. over two - thirds of emerging markets and developing economies are at high risk of debt distress. while the global sovereign debt roundtable has encouraged collaboration, more action is needed. debt sustainability analysis must better account for country context, and the ongoing review of the debt sustainability framework for low - income countries should look at the specific needs of sids. the imf, world bank, and mdbs should take bold steps to support countries in debt distress. mdbs can also create tools like debt - for - climate swaps, exchanging debt relief for climate adaptation investments. finally, structural reforms. we must strengthen the productive and state capacities of emerging and developing economies. the bretton woods institutions should focus more on job creation, equal opportunities, economic diversification, and the impact of refugee flows. similarly, structural reforms must be socially acceptable, ensuring benefits are widely shared. over the past year, the imf and world bank have undertaken significant initiatives to support our members. the completion of the 16th general review of quotas, the ida21 replenishment, and discussions on quota realignment and strengthening world bank group's financing will help ensure that these institutions remain adequately resourced. at the same time, let us not lose sight of the importance of providing adequate access and representation to the countries which need mdb support the most, as well as ensuring evenhanded treatment across the membership. the review of the imf's poverty reduction and growth trust, charges and surcharge policy together with the world bank's ida21 replenishment demonstrate support for our most vulnerable nations. as i reflect on the discussions i have had during these annual meetings, one theme has emerged strongly : the critical need for multi