Foreword Resilience is like a bridge spanning a turbulent river. The waters below may surge unpredictably, but the bridge’s strength lies in its design, maintenance and ability to withstand the forces of change. In today’s world – marked by profound economic shifts, record-high levels of armed conflict, rising protectionism and climate-related disasters exceeding $320 billion in damages in 2024 – resilience has become a precondition for growth, not just crisis survival.1 Since its inception in 2022, the Resilience Consortium has become a vital platform for public- and private-sector dialogue. Its mission is to promote deeper collaboration between companies governments and multilateral development banks (MDBs) to build resilient economies and firms. Capturing perspectives from over 270 private- sector leaders, this year’s white paper builds on the consortium’s mission, delving into resilience preparedness with a particular focus on emerging markets. While organizations have made progress in resilience, readiness remains low: only one in four companies feels prepared across resilience dimensions (an improvement from one in five in 2024). This underscores that resilience is an ongoing journey, requiring a balance of offensive and defensive strategies. The white paper emphasizes the need for a system-wide approach and collective commitment to accelerate progress. It identifies four critical themes for stronger collaboration among companies, governments and MDBs to advance the resilience agenda in emerging markets: infrastructure and supply chains, digitalization and skills development, improving access to finance and reducing policy and regulatory friction. In 2026, the Resilience Consortium will focus on these four priority themes through strategic convenings, including the Annual Meeting in Davos-Klosters. The consortium’s convenings will bring together a high-impact coalition of leaders from companies across sectors, governments and MDBs to drive meaningful progress. We express our gratitude to the consortium’s community members and to Forum initiative leaders for their invaluable contributions. Their insights have been crucial in shaping this white paper, which we hope will guide and inspire leaders as they advance their resilience strategies.Børge Brende President and CEO, World Economic ForumBob Sternfels Global Managing Partner, McKinsey & Company Resilient Firms and Economies: How Companies, Governments and Multilateral Development Banks can Help Unlock Growth in Emerging MarketsDecember 2025 Resilient Firms and Economies 3

Resilient Firms and Economies 2025