As long-standing supporters of the World Bank, we have worked alongside the institution’s staff and projects for over three decades. Unfortunately, multilateral development banks, including the World Bank, are increasingly seen as “stuck in place”: Not doing enough to support low- and middle-income countries and in particular impoverished communities to meet the collective challenges of our times, including health and pandemic preparedness and response.
Sadly, we often hear that the bank is viewed by many as the place where good ideas go to die. Whether or not this view is fair, the perception is a reality the bank’s new president, Ajay Banga, must confront. Much recent discussion has been on the role of climate funding in the bank’s portfolio but, vital as this issue is, there are more basic issues, whatever the bank funds.
Although the bank has proposed reforms, these are unlikely to address the most important issues. Based on our long-standing support for and close partnership with the bank, we believe the following three fundamental changes are needed to strengthen its health programming and make it work for countries in greatest need: reshape what it funds, rework how it funds, and focus its role.