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.