| Synopsis: |
The World Bank (the Bank) is a major provider of development funding, analysis, and advice. The Bank is not perfect however and the context in which it operates continues to change. As a major shareholder and contributor to the Bank, the UK has a distinct leadership role. The UK should articulate and pursue a vision for reform of the Bank.The Department for International Development's (DFID) and the Bank both have core objectives of poverty reduction. There is an increased responsibility on DFID to ensure that the Bank is organisationally effective and achieving a level of development impact that justifies the UK contributions.The Committee's recommendations include: more consistent and transparent use of impact assessments by the Bank across all of its lending is the single most important change in Bank practice that DFID should be pursuing; there should be more representation of developing countries in Bank decision-making; selection of the President of the Bank should be transparent and on merit rather than in the gift of the United States; other recommendations cover: women's empowerment; DFID staffing in relation to the Bank; and, climate change (this is an acute challenge for developing countries).As a development leader the Bank should use its substantial resources and leverage to support viable renewable energy sources. However the urgency of climate change does not lessen the blight of poverty and the World Bank's primary focus must remain on poverty reduction and development.The accompanying "DFID and the World Bank - Volume II: Oral and Written Evidence (HC 67-II)" (ISBN 0215513991) is available to buy separately. |