Sponsored by Energy Thematic Group
Abstract: The model for multilateral development finance launched at the Bretton Woods Conference, July 1944, remains remarkably intact in the World Bank of today. Through a pooling and leveraging of capital by member governments (“shareholders”), the International Bank for Reconstruction and Development (IBRD) seeks to alleviate capital constraints facing governments in developing economies.
However, the recent COVID-19 pandemic, along with a greater sense of urgency on the climate change agenda, has spurred calls for change at the World Bank. Cast broadly under a “global public goods” agenda, these reform ideas seek to embrace some aspects of the Bank’s financial model while calling for a significant shift in mandates and modes of operation. Still, any repurposing of the World Bank must grapple with existing mandates, and in particular, the attitude of the institution’s owners.
This presentation will address the evolution of the World Bank’s financial and operational models and assess how well the post-2018 Bank is positioned to respond to a new era of global challenges.
Speaker: Scott Morris, Center for Global Development
Moderator: Harold Wackman
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