It's finally here. Shareholders demanded and the World Bank management delivered a road map for its evolution.
Now, the real negotiations will kick off in earnest as leaders, including U.S. Treasury Secretary Janet Yellen, insist on changes to make the bank fit for the modern era, including a greater focus on climate change and other global public goods, along with greater support for struggling middle-income countries.
• The goal of the plan, obtained by Devex, is to accelerate efforts to tackle climate change, increase the bank’s capacity to fight poverty, and boost support to middle-income countries, including doing regional projects on cross-border challenges. It would mean a huge shift for the bank, Shabtai writes.
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About the authors
Shabtai Gold
Shabtai Gold is a Senior Reporter based in Washington. He covers multilateral development banks, with a focus on the World Bank, along with trends in development finance. Prior to Devex, he worked for the German Press Agency, dpa, for more than a decade, with stints in Africa, Europe, and the Middle East, before relocating to Washington to cover politics and business.
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
