In today's rapidly changing world, innovation and knowledge for development are more crucial than ever.
The World Bank Group is renewing its approach to knowledge, ensuring that the best global knowledge drives development, scales impactful solutions, and shapes global conversations. Part of the push to become a better Bank involves improving how we collect, store, and share knowledge to help countries stay on track with their development goals.
The Knowledge Compact lays out this vision, focusing on four key areas:
- New and updated knowledge products
- Strategic partnerships
- Enhanced learning opportunities
- Cutting-edge systems
Why does this matter:
- Complex challenges demand innovative knowledge solutions: Development issues are increasingly interconnected, requiring innovative solutions.
- A faster and better Bank needs stronger knowledge capacity: Growth is impossible without leveraging knowledge.
- Technology – especially AI – is transforming development. We have a unique opportunity to accelerate impact at scale.
By strengthening our knowledge approach, we ensure that we provide actionable and scalable development solutions informed by the best analysis, knowledge, data, and expertise.
The Knowledge Bank Onwards: Powering Development with Data, Learning and Partnerships
By drawing on our expertise, client countries, and global partners, we are making the latest evidence and relevant insights more accessible and actionable – leveraging technology to ensure everyone benefits.
Since its launch in May 2024, the Knowledge Compact has outlined a revitalized approach that includes:
- Data at your fingertips: The new data360 initiative will integrate and curate data from the Bank Group, client countries, and global partners into a user-friendly platform.
- Stronger partnerships: We are forging strategic alliances, especially with client countries, which are valuable development strategies and innovation sources. A new partnerships charter strengthens these collaborations.
- Knowledge exchange: The new World Bank Group Academy is working with partner countries to expand the implementation capacity of policymakers and practitioners and equip them with actionable insights and solutions to pressing development challenges.
- Accelerating digital transformation: We are helping countries modernize by providing policy guidance, technical assistance, and thought leadership in digitalization.
- Embedding knowledge in everything we do: From financing and policy advice to partnerships and convening power. Surveys show that countries and partners consider knowledge a critical dimension of the World Bank Group value proposition.
Achievements and next steps
The World Bank Group Academy is now live.
A new Digital Vice Presidency was launched.
We are streamlining data platforms and launching smarter, more strategic products and partnerships.
Our goal is to be a leading knowledge broker that gathers, develops, and shares the best ideas to drive impact at scale.
Last Updated: Mar 06, 2025