At the 2024 World Bank Group-IMF Annual Meetings, Austria and the World Bank signed a partnership agreement to establish a Vienna Development Knowledge and Learning Center designed to open doors of expertise and unlock the full potential of knowledge to increase development impact.
The Center builds on the long-standing partnership between Austria and the World Bank Group, where various knowledge programs on topics such as financial sector reform, investment climate, urban development, climate change, and water management have flourished over the years.
The new Center will elevate this cooperation by hosting a Development Knowledge Exchange Series, underpinned by the World Bank Group’s global and regional expertise, aimed at encouraging discussion, sharing new ideas, and facilitating co-learning.
The Center will also support field visits, and experience-sharing with Austrian institutions, private sector entities, and civil society organizations.
Key design features and principles of the Knowledge Center include:
Target Audience. The Center will primarily serve public and private sector representatives from throughout the Europe and Central Asia (ECA) region. When relevant and feasible, World Bank client countries from other regions will be invited to broaden the sharing of development experiences.
Thematic Focus. While multi-disciplinary in nature, the Center will concentrate on a few thematic areas most pertinent to ECA countries like economic governance or nature-based solutions.
Activity Format. The Center will offer a variety of engagement formats, including technical deep-dive workshops, field visits, product-specific labs, and collaborative learning sessions with WBG teams, etc.
Expertise. The Center will leverage the expertise of the World Bank Group staff based in Vienna and the ECA region while systematically mobilizing global knowledge and linking with the World Bank Group Academy. Knowledge work of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) will be included in relevant knowledge activities.
Partnership Synergies. The Center will actively tap into the resources and knowledge of the World Bank Group partners, particularly the European Commission and other European institutions.
To ensure strategic focus and relevance, annual plans for the Knowledge Center will be developed and agreed upon by ECA management in consultation with the Austrian Ministry of Finance. This collaborative approach aims to maximize the impact of the Center's initiatives and foster innovative solutions to development challenges in the ECA region and beyond.