The Spring Meetings of the World Bank and International Monetary Fund have a different feel about them this year — a sense that change is in the air.
This could be the start of a new era in which the 78-year-old institutions are overhauled and modernized so that they can better tackle global challenges, including climate change.
Much of the focus for now is on the bank, which is undergoing a shareholder-led reform so it can increase its lending and be more agile with how it disburses money. Of course, bank President David Malpass, a Trump-era appointee, will be ending his term early, and Ajay Banga, formerly of Mastercard, is slated to take over in July, injecting a fresh start.
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About the author
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.
