The World Bank's big gamble

Jim Yong Kim, president of the World Bank Group. Photo by: World Economic Forum / CC BY-SA

As the World Bank nears its deadline to implement reforms and be “fit for purpose” by July 1, the bank’s spring meetings last week provided an opportunity for all stakeholders to address the state of efforts made so far.

Finance ministers from around the world who met over the weekend at the institution’s headquarters in Washington, D.C., gave the bank’s management lukewarm support in its official statements.

As the implementation date for reforms approaches, it has become clear the real work is still ahead.

President Jim Kim continues to enjoy the strong support of the bank’s Development Committee, which oversees the general direction of the reform, according to Marek Belka, the chairman of the committee, who said that during an informal lunch of the ministers “one had an impression of resounding support” for the president.

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About the author

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    Paul Stephens

    Paul Stephens is a Devex staff writer based in Washington, D.C. His coverage focuses on Latin America and World Bank affairs, as well as Washington's global development scene. As a multimedia journalist, editor and producer, Paul has contributed to the Los Angeles Times, Washington Monthly, CBS Evening News, GlobalPost and the United Nations magazine, among other outlets. He's won a grant from the Pulitzer Center on Crisis Reporting for a 5-month, in-depth reporting project in Yemen after two stints in Georgia - one as a Peace Corps volunteer and another as a communications coordinator for the U.S. Agency for International Development.