World Bank

Trust funds are often regarded within donor agencies, such as DFID, as a useful mechanism to bypass lack of consensus within the multilateral, or to circumvent bureaucratic obstacles. But trust funds should properly be regarded as second or third best solutions.

Last week, the US Treasury Department submitted a report to the appropriations committees of the House and Senate on strengthening the accountability mechanisms of the World Bank and International Finance Corporation, fulfilling a requirement included in the spending package signed into la...