New leadership at the International Finance Corporation is transforming the institution — but a "profound change" is needed if it is to become a "public development agency whose interest is to develop the country, not to make money," according to development heavyweight Paul Collier.
Former U.K. Prime Minister Gordon Brown outlines plans for a new financial facility to leverage money for education in the world's poorest countries and address a crisis that he describes as the "civil rights struggle of our time."
How can the development community take resilience from buzzword to action? Devex hosted an expert Tweet Chat to find out on the sidelines of this year's World Bank Spring Meetings.
Investing in programs to improve the well-being and health of adolescents could bring a tenfold economic benefit to countries experiencing a demographic shift toward an increasingly youthful population, a new report by The Lancet has found. Development experts and donors gathered at the World Bank to discuss the findings.
The World Bank is currently set up to reward staff for getting loans out the door. But staffers who set up projects the private sector can handle are the ones who should get promotions, said President Jim Kim.
World Bank President Jim Kim spoke to reporters Thursday about the need to rethink climate finance, reported cuts to the U.K. aid budget, and World Bank cooperation with China.
As part of the Spring Meetings, the World Bank convened young innovators with new ideas about how to make the agriculture and food systems work better for farmers, consumers and the environment. Here are four pioneering projects.
The African Development Bank is fighting to keep up with Africa's huge demand for financing. Akinwume Adesina, the AfDB chief, spoke about some of the steps he's taking to help fill the gap.
Despite huge increases in the number of primary and secondary schools in developing countries, poor and vulnerable students are still missing out and actual learning levels are shockingly low in many countries.
The World Bank’s inspection panel released lessons from its assessments of environmental and social harm caused by bank projects. One of their messages is that bank staffers should rely less on documents and computer models and more on their own observations of what is actually happening at — and around — a project site.
Preventing gender-based violence will be a priority for his second term at the World Bank, President Jim Kim said during an award ceremony for innovative researchers and organizations working on GBV.
While some countries and aid donors have dabbled in direct cash transfers, India is looking at whether rolling out a massive basic income program could eliminate poverty from the country entirely.
The latest world economic forecast from the IMF has good news and predicts global growth will pick up by 3.5 percent in 2017, driven largely by emerging economies. But protectionist policies threaten to derail progress, the report warns.
The World Bank is undergoing a transformation from traditional project lender to modern financial catalyzer, working to incentivize private investors to pitch in the trillions of dollars needed for global development. While questions still remain, the shift in thinking and operation could position the institution for a new era of relevance.
Ahead of the World Bank Spring Meetings this week, President Jim Kim promised to pursue a new way of working for all major development finance institutions by placing a fresh emphasis on helping the poor.
Ahead of the spring meetings, Devex talks to Kristalina Georgieva about her new role as the first ever CEO of the World Bank, where she is in charge of the two lending arms — the International Bank for Reconstruction and Development, and the International Development Association. She tells Devex how she aims to make the institution more agile, innovative and better at crowding in private sector financing.
Ahead of the World Bank Spring Meetings next week, Devex has reviewed the bank’s database of major contract awards and analyzed the key sectors, regions and other trends in World Bank procurements.
Speaking a week before the start of the World Bank Spring meetings, President Jim Kim outlines a different vision of development finance — one that crowds in commercial finance — and talks about the organization's role in bringing it to reality.