Thursday 13 April 2023
Reform of the World Bank Group (WBG) outlined in the Evolution Roadmap is both necessary and timely, the success of any reform efforts can only be ensured if there is sufficient transparency of the design, implementation, and impact of projects. Increases in quantity of funding from the WBG must be matched with increases in quality of funding. The newly launched DFI Transparency Index scores the World Bank at 65.4/100 and IFC at 54.4/100 (albeit in 1st place among their peers), leaving room for improvement, especially in light of planned reforms and expanded lending, where transparency of how success is measured will be vital.
At our recent panel event, part of the Civil Society Policy Forum at the World Bank Group’s 2023 Spring Meetings, we were delighted to be joined by:
- Teresa Nyankonyu Mutua, Communities Director, Accountability Counsel
- Andri Prasetiyo, Program Manager, Trend Asia
- Brenna Lundstrom Clerkin, Public Affairs, IFC
- Vijay Pillai, Lead Operations Officer, Operations Policy and Country Services, World Bank
- Gary Forster, CEO, Publish What You Fund (Moderator)
An impactful and accountable World Bank
We also discussed our proposal to reform the transparency of the World Bank IDA and IFC. You can download our draft proposal here. The paper outlines three reforms to transparency that should accompany any future reform package at the World Bank Group (WBG). Improving transparency in the proposed areas is fundamental to monitoring and measuring the success of the WBG generally, and the reforms specifically, to deliver impact, mobilise private capital, and ensure adequate transparency and accountability to communities.