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World Bank Reform

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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.

Issues

Increasing Transparency and Access to Information

The 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 Participation

We 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 Governance

Governance 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 Management

A 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.

Reviewing Internal Governance

The report sets out proposals for strengthening World Bank Group governance and overall effectiveness, including voice and participation.

OPEN DATA

The World Bank offers free access to more than 7,000 financial, business, health, economic and human development statistics via data.worldbank.org »

Blog

People, Spaces, Deliberation

Blog explores the interactions among public opinion, governance, and the public sphere. Read more »


Last updated: 2011-12-12




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