British Official Calls for ’Ambitious' World Bank Reforms

U.K. Secretary of State Douglas Alexander is encouraging the World Bank to embrace “ambitious reforms” that would allow it to effectively lead the global initiative to reduce poverty. Alexander urged World Bank managers and stakeholders to give poorer countries a greater stake in the bank, speed up decentralization of bank operations and implement necessary changes in its leadership and corporate governance.

The British official also said the bank should prioritize the world’s most pressing development challenges, concentrate its efforts on poor countries and improve its capacity to quickly response to the needs of an “unpredictable world.”

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.