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1. Can the World Bank Deliver on Climate Change? Testing the Evolution Roadmap through Loss and Damage

Author:
Michael Franczak
Publication Date:
04-2024
Content Type:
Working Paper
Institution:
International Peace Institute (IPI)
Abstract:
The establishment of a new Loss and Damage Fund and Funding Arrangements at COP27 and the Fund’s operationalization and initial capitalization at COP28 were milestones in the UN climate regime. The World Bank engaged in the Transitional Committee (TC) process as a potential host and trustee for the Fund, a member of a new “High-Level Dialogue,” and a direct provider of loss and damage (L&D) support. The implementation of the Fund and Funding Arrangements—the mosaic—is the first big test of the World Bank’s commitment to evolving its policies, practices, and relationships. This paper discusses the World Bank’s engagement with loss and damage, including the context of broader reforms aiming to modernize the Bank, such as the Bank’s Evolution Roadmap, which identifies three guiding elements for the Bank’s evolution: a new mission and vision, a new playbook, and new resources. One of the key components of the Bank’s evolution is the introduction of climate-resilient debt clauses (CRDCs) or “pause clauses.” Pause clauses feature prominently in recent initiatives to reform the international financial architecture, such as Bridgetown 2.0, the Africa Climate Summit’s Nairobi Declaration, and the Vulnerable Twenty Group’s (V20) Accra-Marrakech Agenda. The paper also discusses the debate over the World Bank’s hosting of the Fund and the set of conditions and safeguards, determined by developing countries, that the Bank would have to meet in order to host the Fund. Finally, the paper discusses priority actions for the High-Level Dialogue, including resource mobilization, institutional protocols, and the losses and damages of the future.
Topic:
Climate Change, World Bank, Loss and Damage (L&D), and Conference of the Parties (COP)
Political Geography:
Global Focus

2. Fragility, Conflict, and Violence at the World Bank—Recommendations for the Spring Meetings

Author:
Sarah Cliffe, Daniel Friedman, Betty N. Wainaina, and Céline Monnier
Publication Date:
04-2024
Content Type:
Commentary and Analysis
Institution:
Center on International Cooperation (CIC)
Abstract:
The World Bank Governors meet at the International Monetary Fund (IMF)-World Bank (WB) Spring Meetings this week to discuss progress on the World Bank’s Evolution Roadmap. Much of this discussion will focus on financing, including commitments to the hybrid facility and the prospects for the upcoming International Development Association (IDA) replenishment. Equally important, however, is whether and how the World Bank continues to play a leading role in international support to countries affected by fragility, violence, and conflict. In this piece, the authors provide recommendations for the International Monetary Fund and World Bank Spring Meetings 2024, considering how the World Bank Evolution Roadmap addresses conflict, fragility, and violence; and the importance for the Bank to maintain its financial allocations to prevention in the upcoming International Development Association round of financing.
Topic:
Development, World Bank, Conflict, Violence, IMF, and Fragility
Political Geography:
Global Focus

3. United Nations and World Bank Collaboration in Security and Justice Sectors: Linkages to Development

Author:
Sarah Cliffe, Betty N. Wainaina, and Natacha Meden
Publication Date:
07-2024
Content Type:
Special Report
Institution:
Center on International Cooperation (CIC)
Abstract:
The links between security and development cannot be said enough. Effective and accountable security and justice institutions are essential to anchor peace and accelerate development but only if these institutions are people-centered, inclusive, accountable, and based on respect for human rights and the rule of law. Over 600 million people are living in countries that are considered politically estranged today. Many of these countries have faced and continue to face security challenges that have been significant drivers of grievance and contestation. Addressing governance challenges in the security and justice sectors in such circumstances is critical at a moment when all the remaining United Nations (UN) multidimensional peacekeeping operations have been requested to initiate or intensify transition planning. These transitions are taking place in countries and regions where the nature of violence and conflict is changing—becoming more protracted, involving transnational non-state armed actors, amid geo-political contestations and proxy wars. This study highlights that despite the long history of UN and World Bank engagement in the security and justice sectors, there has not been much strategic collaboration. Indeed, while there have been a few very compelling examples of joint work such as public expenditure reviews in the security and justice sectors in Liberia or Somalia, joint diagnostics and knowledge products as well as disarmament, demobilization, and reintegration (DDR) operations in a few countries, or strategically sequenced mutually reinforcing interventions for example in the case of The Gambia, these instances are the exception rather than the norm. The study finds that there is a lot more that can be done to promote a more systematic and strategic partnership between the UN and the World Bank in security and justice sector engagements. This could range from information sharing, joint analysis where necessary, reinforcing each other’s messaging, and the coordination and harmonization of efforts to leverage respective convening platforms and relationships. Strengthening this work is a challenge that would require engagement from the most senior UN and World Bank leadership as it would involve a cultural transformation and fresh understanding of organizational and staff incentives. Included in this report are eight joint and individual recommendations ranging from the cultural or strategic, to the more technical for policymakers across both multilateral institutions to implement and bring into their organizations.
Topic:
Security, Development, United Nations, World Bank, and Justice
Political Geography:
Global Focus

4. Why and How Multilateral Development Banks Support Improved Outcomes for Economic Migrants and Refugees

Author:
Helen Dempster, Martha Guerrero Ble, and Stephanie López Villamil
Publication Date:
05-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
Economic migrants and refugees can bring both benefits and costs to their hosting countries. If well-integrated, they can support themselves, their families, and their hosting countries as producers and consumers. Both economic migration and forced displacement are therefore integrally linked with development outcomes. Recognizing this, multilateral development banks (MDBs) are supporting their beneficiary member countries to improve outcomes for economic migrants and refugees, in the form of billions of dollars in grants and loans, as well as technical assistance, policy dialogues, and knowledge exchanges. This paper provides an introductory snapshot of some of the financing instruments, projects, and strategies used; particularly innovative approaches; and challenges MDBs face in expanding their engagement. It is hoped this paper will be useful to anyone who engages with MDBs and wants to understand how they engage on economic migration and forced displacement, particularly as these issues continue to grow in importance.
Topic:
Development, Migration, World Bank, Refugees, and Banking
Political Geography:
Global Focus

5. ABCs of the IFIs: Understanding the World Bank’s IDA21 Replenishment

Author:
Erin Collinson, Clemence Landers, Justin Hurley, and Grace Miner
Publication Date:
06-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The International Development Association (IDA)—the World Bank’s arm that works in low- and lower-middle-income countries—is one of the largest sources of development assistance for the world’s poorest countries. It is also a crucial tool for resource-constrained governments to borrow on affordable terms compared to other creditors, including Chinese entities. IDA supports eligible countries whose annual per capita incomes fall below an established line (currently $1,315 in FY2024). Because IDA provides grants and highly subsidized loans to its client countries, its funds need to be replenished by donors every three years. Replenishments are year-long negotiations where the World Bank’s shareholding countries, of which the US is the largest, negotiate a policy and financing package for the next three-year cycle. This year, 2024, is an IDA replenishment year for the institution’s twenty-first round of funding (“IDA21”), culminating with a pledging session in December to finalize IDA21’s financing envelope.
Topic:
Development, World Bank, and International Development Association (IDA)
Political Geography:
Global Focus

6. Multilateral Development Banks in Fragile and Conflict-Affected Situations: Overview of Key Policy, Financial, and Operational Issues

Author:
Koldo Echebarria
Publication Date:
12-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
This paper presents an overview of significant policy, financial, and operational challenges encountered by multilateral development banks (MDBs) in fragile and conflict-affected situations (FCS). The data indicates that MDBs have increased their involvement in financing FCS compared to bilateral and other multilateral donors, with the World Bank playing the most significant role. This is explained by financial and operational comparative advantages inherent in the MDB business model, despite their implicit biases and constraints. The paper reviews the strategies and framework documents adopted by MDBs to address FCS as a distinct development challenge, highlighting the complexity of translating knowledge advancements and lessons learned into operational categories and clear priorities. It also examines how MDBs are placed regarding the recommendations of the "peace-humanitarian-development nexus," which is central to the international consensus for addressing FCS. The evolution of the financial capacities of MDBs and the criteria for resource allocation in response to the needs of FCS are analyzed. The paper concludes by posing a set of questions that MDBs and their shareholders should consider as they develop reforms to meet FCS-specific requirements and strengthen performance and outcomes.
Topic:
Development, World Bank, Banking, Multilateral Development Banks (MDBs), and Sustainable Development
Political Geography:
Global Focus

7. Bretton Woods Institutions: 80 Years and Counting

Author:
Roman Marshavin
Publication Date:
12-2024
Content Type:
Journal Article
Journal:
International Affairs: A Russian Journal of World Politics, Diplomacy and International Relations
Institution:
East View Information Services
Abstract:
ON JULY 22, 2024, the world marked the 80th anniversary of the conclusion of the Bretton Woods Conference, which led to the establishment of the International Monetary Fund and the World Bank. This milestone provides an opportune moment to assess the progress achieved and reflect on future challenges. In 1944, when these institutions were created, the world was vastly different. World War II was still ongoing, but the defeat of Nazism was within reach. Beginning in 1943, consultations were held in Moscow and Washington among the Allies of the anti-Hitler coalition – primarily the US, the UK, and the USSR – regarding the future world order, including its economic dimensions. The Soviet delegation, led by Deputy People’s Commissar for Foreign Trade Mikhail Stepanov, played an active role in these discussions, including the establishment of the UN and financial institutions. It is fair to say that without the USSR’s participation, the creation of the first-ever truly global financial institutions would have been impossible. Archival materials confirm the high level of preparation by Soviet experts and their diplomatic skills, which enabled them to defend several key positions for the country and reflect them in the final documents.
Topic:
World Bank, Institutions, IMF, BRICS, and Bretton Woods
Political Geography:
United Kingdom, Soviet Union, United States of America, and Global South

8. Are Global Value Chains for Sale? On Business-State Relations in the MENA Region

Author:
Nora Aboushady and Chahir Zaki
Publication Date:
01-2023
Content Type:
Working Paper
Institution:
German Institute of Development and Sustainability (IDOS)
Abstract:
We use new data on political connections from the World Bank Enterprise Surveys to examine the impact of connections on firms’ participation in global value chains (GVCs) for six MENA countries (Morocco, Tunisia, Egypt, the West Bank and Gaza, Jordan, and Lebanon). In addition to political connections, we construct several measures of “political influence” based on available data on lobbying and grand corruption. We also explore whether political connections help firms overcome barriers to trade and investment and increase their participation in GVCs at the extensive and intensive margins. Our findings suggest that political connections do matter for firms’ GVC participation. The impact is more pronounced for firms that combine political connections with informal payments to influence policymaking. Our findings on the significance of trade and investment barriers for GVC participation for different categories of firms’ political influence are – however – inconclusive.
Topic:
Corruption, Development, Politics, World Bank, Business, Investment, Trade, and Global Value Chains
Political Geography:
Middle East, Palestine, Gaza, North Africa, Lebanon, Egypt, Jordan, Morocco, Tunisia, and West Bank

9. Sick Development: How rich-country government and World Bank funding to for-profit private hospitals causes harm and should be stopped

Author:
Anna Marriott
Publication Date:
06-2023
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Development finance institutions owned by European governments and the World Bank Group are spending hundreds of millions of dollars on expensive for-profit hospitals in the Global South that block patients from getting care, or bankrupt them, with some even imprisoning patients who cannot afford their bills. At the height of the COVID-19 pandemic, some of these same hospitals denied entry to patients suffering from the virus or sold intensive care beds at eyewatering prices to the highest bidder. These development institutions have woefully inadequate safeguards, invest via a complex web of tax-avoiding financial intermediaries, and offer little to zero evidence on the impacts their investments are having. Oxfam is calling on rich European governments and the World Bank Group to immediately halt their spending on for-profit private healthcare, and for an urgent independent investigation to be conducted into all active and historic investments.
Topic:
Development, World Bank, Economic Development, COVID-19, Private Equity, Universal Healthcare, and Profiteering
Political Geography:
Europe and Global South

10. Reforming the World Bank to Play a Critical Role in Addressing Climate Change

Author:
Pedro Albarran, Patricia Bliss-Guest, and Laura Tuck
Publication Date:
03-2023
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The current World Bank model focuses on reducing poverty and promoting equitable growth, while considering environmental and social sustainability. Programming of resources is country-driven, and resources are allocated to programs and investments according to priorities of client government authorities. Despite the appeal of this approach and its many benefits, it has left numerous global public goods (GPGs), particularly those related to climate change, underfinanced, undermanaged, and unachieved. The resulting limited levels of investment and programs have significant global cost and, potentially, extreme ramifications. While there has been considerable reflection on the question of mandate, as well as on options for improving financial engineering of the multilateral development banks (MDBs) to increase resources to better address GPGs, there has been little attention given to reforms and changes in the internal business model that would be required at an MDB like the World Bank if it were to implement a new global mission on climate change. This paper examines the changes in the internal business model that would allow the World Bank (or other MDBs) to better address climate change—and, with some adjustments, potentially, other GPGs.
Topic:
World Bank, Climate Finance, Multilateral Development Banks (MDBs), and Sustainable Development
Political Geography:
Global Focus