Tag: International Financial Institutions

 

Excuse Me, World Bank, This Time Is Last Time’s Next Time

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Historically the World Bank’s President was nominated by the USA and that person was then approved by the World Bank’s Board (and in a reciprocal agreement Europe nominated the head of the IMF).  Now, discussions have begun “over how and whether to reappoint” Jim Yong Kim, when his first term ends next June. I agree with the World Bank Staff Association that we need to be able to have confidence in this process.

The World Bank's New Safeguards: A Step Forward or Back? – Podcast with Scott Morris

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A multi-year project just came to fruition with the endorsement by the Board of the World Bank of its new set of safeguards—the social and environmental standards that govern Bank-funded projects in client countries. CGD's expert on multilateral development banks, senior fellow Scott Morris, reacted to the new policies in a recent blog post, and joins me this week on the CGD Podcast to discuss. 

New Approach to Managing Environmental and Social Risks in World Bank Programs

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On Thursday, August 4, the World Bank’s Board of Executive Directors approved a new “Environmental and Social Framework” for bank-financed investment projects. While the new policy framework has cleared the hurdle of Board approval, many questions remain. Will the new framework succeed? Will it enhance country capability and commitment to managing environmental and social risks? And will it reduce the bureaucratic hassles associated with bank lending and bolster demand?

Doing More than Safeguarding the Safeguards at the World Bank

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Depending on who you listen to, the World Bank has either just launched an unprecedented reach into the domestic political affairs of sovereign nations, or it has gutted the rules that have helped define its essential character as a global norm-setter. Both can’t be right, and most likely, neither is. To better understand the objectives of the bank's newly adopted “safeguards” regime, and why I’m somewhat encouraged by it, it’s worth looking more closely at the arguments of critics on both sides.

Who Should Lead the EBRD? – Podcast with the Presidential Candidates

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It has operations in more than 30 countries worth around $9 billion. And now the European Bank for Reconstruction and Development is searching for its next leader. Current president Sir Suma Chakrabarti is seeking a second four-year term as EBRD president, and he faces the challenge of Marek Belka, a former Prime Minister and Finance Minister of Poland and currently president of the country’s National Bank. Recently both candidates recorded interviews with me, which we have edited together into this edition of the CGD Podcast.

What About Gender Equality as a Public-Sector Priority?

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We at CGD recently hosted a series of events illuminating the case for smarter gender policy in the private sector, a triple win that would benefit consumers, firms, and emerging economies. Change in private firms is important — but what about the world’s public sector? To create more opportunities for women and create valuable spillover effects, we might start with central banks.

Doing the Math on AIIB Governance

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The Asian Infrastructure Investment Bank’s new articles of agreement contain a great deal of information about shareholding and governance in the new institution. However, the articles require some additional analysis in order to answer key questions about voting power and board composition. Based on the information provided, we are able to generate voting shares as well as some preliminary conclusions about the composition of the AIIB’s board of directors.

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