World Bank Goes Global
The World Bank is re-organizing to become truly global. The bank, which lends more than $30 billion annually and works in more than 100 countries, is currently running more than 1,000 projects around the world. Those projects are now organized fund by fund, country by country, and region by region. The bank proposes to restructure its operations around 14 “global practices,” including such categories as agriculture, education, energy and extractives, health and nutrition. The reorganized bank would also work more in partnership with the private sector to reach its mission goals: to eradicate extreme poverty by 2030 and support inclusive economic growth. It’s a smart acknowledgement that new and future development challenges are global, not national.
John Howell, Editorial Director