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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. ....
Industries in the country are battling for survival owing to the continued slide of the naira against the dollar, Daily Trust can report. The naira Thursday traded at between N1,150 and N1,155/dollar at the unregulated markets in Lagos and Abuja. At the official Investors & Exporters (I&E Window), it had earlier traded at N986 before… ....
Every September 11, the United States’ selective memorialization rolls around. There are clear flaws with the commemoration of the 9/11 attacks, the most obvious being the commitment to ignoring the approximately 4.7 million civilians that died due to American “vengeance.” ....