Annual Meetings Side Event Sponsored by the Concessional Finance & Global Partnership Vice-Presidency
The Role of the World Bank in Innovative Finance in a Post-Crisis World
Sunday, October 10, 10:00 a.m.-12:00 p.m.
Venue: I Building 1-200
Events of the last two years have changed the global growth outlook and the landscape for development finance. Amid these changes, the challenge of reducing poverty, meeting the Millennium Development Goals (MDGs) and financing mitigation and adaptation for climate change has taken on new dimensions. A post-crisis world is proving to be problematic for both middle-income and low-income countries to mobilize the necessary resources to finance development.
Against this backdrop, donors and developing countries are searching for new and better ways to mobilize resources and improve the efficiency and effectiveness of their delivery. Innovative finance can play an important role in the post-crisis world. First, it can help to generate additional development funds by tapping new sources and engaging new partners, such as emerging donors and the private sector. Second, it can help provide customized solutions to address developing country needs, thereby improving the efficiency of development spending. Third, it can help to link funding to results and improve aid effectiveness.
The World Bank already has a strong track record in innovative finance, and has been the innovator of new concepts and instruments such as green bonds, vaccine bonds, a variety of insurance products, and results-based financing. But as the field of innovative finance becomes larger, its potential more important, and its structure often more technically complex, the World Bank needs to explore how it can serve its partners and client countries better.
A panel of distinguished individuals will discuss the following questions and will take questions from the audience:
What role can innovative finance play in a changing development finance landscape?
What should be the World Bank's role in shaping the field of innovative finance for development?
How can the World Bank work with development partners more effectively to make the most of innovative finance?
If interested in attending this event, please send your name, title, organization and contact details to:
Mr. Johannes Kiess (email: firstname.lastname@example.org or tel. 202-458-9475) by October 5, 2010