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WASHINGTON – While China still receives loans and other aid from multilateral institutions like the World Bank and UN agencies, it has also emerged as one of the most powerful donors, in some ways eclipsing the US, according to a sweeping new study from the Center for Global Development.
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Much of the data underlying global poverty and inequality estimates is not in the public domain, but can be accessed in small pieces using the World Bank's PovcalNet online tool.
US leadership in multilateral institutions such as the World Bank and regional development banks is flagging. These institutions, rated as some of the most effective development actors globally, provide clear advantages to the United States in terms of geostrategic interests, cost-effectiveness, and results on the ground. Restoring US leadership in institutions like the World Bank will mean giving a greater priority to MDB funding, which today accounts for less than 10 percent of the total US foreign assistance budget and less than 0.1 percent of the total federal budget. Prioritizing multilateral assistance in an era of flat or declining foreign assistance budgets will necessarily mean some reallocation from other pots of foreign assistance money, as well as an effort to address the structural impediments to considering reallocations.
For the first time in its seven-decade-long history, World Bank staff staged a work stoppage earlier this month. Staff are unhappy about the “Change Process,” aka the ongoing internal reorganization that President Kim initiated on his arrival at the bank now more than two years ago.
Last week the World Bank announced the process for choosing the next president of the organization. Minutes after midnight on the first day nominations were to be accepted, the US formally nominated the incumbent Jim Kim. Other nominations are possible in what is, allegedly, an “open, merit-based, and transparent” process, but which will only be “open” for three weeks. Here are five women who could ably lead the World Bank.
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