The World Bank Group is advancing multiple reforms to promote inclusiveness, innovation, efficiency, effectiveness, and accountability. It is expanding cooperation with the UN, the IMF, other multilateral development banks, donors, civil society, and foundations. But the effort must go further to realize a World Bank Group that represents the international economic realities of the 21st Century, recognizes the role and responsibility of growing stakeholders, and provides a larger voice for developing countries.
Increasing Transparency and Access to InformationThe World Bank offers a growing range of free, easy-to-access tools, research and knowledge to address the world's development challenges. Our Access to Information Policy -- which took effect July 1, 2010 -- greatly expands opportunities for the Bank to share its global knowledge and to enhance the quality of its operations by providing more information about its projects and programs.
Increasing Voice and ParticipationWe are reforming to enhance the voice and representation of developing and transition countries in the Bank Group, with an additional Board seat for Sub-Saharan Africa and an increase in the voting power of developing countries to at least 50 percent over time.
Promoting Accountability and Good GovernanceGovernance and anti-corruption are now key elements in Bank operations across sectors and countries, with lending in public sector governance comprising approximately $5.7 billion in FY10 and $4.5 million in FY11.
Improving Risk ManagementA major effort is underway to reform the Bank’s investment lending model so that it responds better to borrowers’ needs and a changing global environment. The new approach calls for more focus on results and risks; and streamlined processing of low risk operations while paying more attention to supervision and higher risk investments.
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People, Spaces, Deliberation
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