WASHINGTON, JANUARY 13, 2023 — The World Bank Group today released the following statement:
“On January 11, the World Bank Group’s Boards of Executive Directors discussed with Management an Evolution Roadmap for the Bank Group to better address the scale of development challenges such as poverty, shared prosperity, inequality, and cross-border challenges including climate change, pandemics, and fragility, conflict and violence, that all affect the Group’s ability to achieve its mission. The Board expressed preliminary views on Management’s initial draft, Evolving the World Bank Group’s Mission, Operations, and Resources: A Roadmap. The roadmap, which was not for endorsement or approval, provides a basis for Management and the Board to exchange preliminary views on priorities for the World Bank Group’s evolution, identify areas for deeper engagement over coming months and a process for reaching consensus, and begin implementation of the Bank Group’s collective reform efforts. The roadmap outlines three building blocks of this process:
(i) Review the Bank Group’s Vision and Mission.
(ii) Review the Bank Group’s Operating Model.
(iii) Explore options to enhance the Bank Group’s Financial Capacity and Model, taking into account recommendations made in the Capital Adequacy Framework Review of the G20.
Overall, the Board in its preliminary discussion reaffirmed the continued commitment to the Twin Goals of ending extreme poverty and promoting shared prosperity in a sustainable way, while serving all clients and taking into account global challenges that negatively affect client countries’ opportunities to achieve the SDGs. The Board also confirmed its commitment to serve all clients including LICs, MICs, SIDs and FCV countries. The Board in addition re-affirmed the need to work towards making the WBG more impactful and to engaging more effectively with other MDBs, IFIs and other international partners. The Executive Directors noted the principles outlined in the report and emphasized the need to be ambitious. Having provided initial reactions, the Board looks forward to discussing in greater detail the issues raised in an appropriate sequence.
The evolution is led by the Board and shareholders, working closely with Bank Group Management, through a transparent, inclusive, iterative process that will include engagement with other stakeholders. For the Spring 2023 Development Committee Meeting, a paper will be prepared to report to Governors on proposals concerning the Bank Group’s Vision and Mission and plans to drive further progress around all three building blocks and, at the same time addressing the most urgent financing capacity issues, including CAF recommendations. Based on the Governors’ guidance there and additional discussions, a Development Committee paper will be prepared for discussion at the 2023 Annual Meetings. There will also be an ongoing consultative process with relevant stakeholders."
Contact:
In Washington: David Theis, (202) 458-8626, dtheis@worldbankgroup.org
