Annual Meetings Chairman, Sergii Marchenko, Minister of Finance of Ukraine, World Bank President Ajay Banga, and Managing Director of the International Monetary Fund Kristalina Georgieva speak at the October 13th plenary session of the Annual Meetings in Marrakech, Morocco.
World Bank President Ajay Banga recently stated that one of his top priorities was to shift the institution’s incentives from inputs (i.e., loan approvals and disbursements) to outcomes (i.e., the actual impacts of lending on developing countries). This is an old challenge, highlighted by the Wapenhans Report back in 1992, that criticized the organization’s “approval culture” and lack of focus on project implementation. In response to this challenge, former presidents worked to boost organizational effectiveness beyond financial goals. Jim Wolfensohn developed the “knowledge bank” concept to emphasize the non-financial dimension of the Bank’s performance and implemented the matrix to enhance project quality. To overcome regional silos and more effectively identify and spread integrated solutions, Jim Kim established global practices.
Good morning.
Chair Marchenko, thank you for chairing this plenary.
Mr. Kabbaj, Prime Minister Akhannouch, thank you for hosting these Annual Meetings. The road to Marrakesh was not an easy one, delayed by the pandemic and persevering after an earthquake. Yet the warmth and hospitality we’ve received from your government and all Moroccans has been humbling.
Remarks by World Bank Group President Ajay Banga at the 2023 Annual Meetings Plenary worldbank.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldbank.org Daily Mail and Mail on Sunday newspapers.
At the urging of shareholders, the World Bank has pulled together a set of reform proposals to broaden the World Bank Group’s mission, stretch its balance sheet, and strengthen its impact. We looked at both the new Roadmap document and 2016's Forward Look document to assess whether the Evolution Roadmap represents a fundamentally new direction for the World Bank, or a continuum of the path set by the Forward Look.