UN and World Bank signed a joint statement, aimed at reducing poverty, promoting shared prosperity, enhancing food security, and sustaining peace in crisis-affected situations

According to the UN official web page, the mentioned document was signed by UN Secretary-General António Guterres and World Bank Group President Jim Yong Kim on April 22.

UN remarks that human and economic costs of conflict are massive, affecting long-term stability and prospects for economic development and poverty reduction. Violent conflict drives 80 per cent of humanitarian needs costs, with the UN estimating that USD 22.1 billion is required in 2017 for humanitarian assistance – a sharp increase just in five years. That is why UN and World Bank decided to expand their cooperation and work more closely together on prevention and reducing needs, risks, and vulnerability as the world faces a spike in violent conflict.

“Under the framework agreed today, the UN and World Bank will work in complementary ways to reduce the multi-dimensional risks of crisis and help prevent violent conflict, as well as develop joint analyses and tools for more effective solutions,” the document reads.

The latest document was signed by UN and World Banks nine years ago. The new partnership also reflects developments since then, including commitments made at the 2016 World Humanitarian Summit in Istanbul calling for a “new way of working” that shifts the focus from “meeting needs” to “reducing needs, risks, and vulnerability.”