The IBRD/IDA trust fund reform aims to reduce fragmentation in the World Bank's trust fund portfolio. At the heart of this initiative is the streamlining of this portfolio into a limited number of larger Umbrella 2.0 Programs.
Umbrella Programs:
- Are strongly aligned with the World Bank's priorities, and maximize the value of development resources through strengthened integration with the Bank’s institutional strategy, planning, budgeting, and staffing processes.
- Provide opportunities for elevated dialogue between the World Bank and its development partners
- Operate at scale to achieve improved results on the ground while improving development effectiveness and impact for client countries.
Beyond scale, the reform process has ensured that Umbrella 2.0 Programs come with standardized approaches to governance, communications and visibility, as well as managing for results and reporting. These greatly reduce transaction costs and allow the Bank and its development partners to focus on delivering results where it matters most.
