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On the sidelines of the World Bank and IMF Annual Meetings in Bali, the Center for Global Development, the International Development Finance Club (IDFC), and the Organization for Economic Co-operation and Development (OECD) are pleased to co-host an event, The Changing Role of Development Banks with a Public Mandate in the 2030 Agenda.
The session will focus on the United Nations’ 2030 Agenda, framed by the Sustainable Development Goals (SDGs), and how national and regional development banks can support policy development and financing of these ambitious goals. The Center for Global Development and the IDFC will present their findings on how the twenty-three IDFC development banks are aligning with SDGs and how these banks are evolving to promote sustainable development pathways in the long run. The OECD will discuss the role that emerging economies’ development banks can play in mobilizing the private sector to assist in funding the SDGs. The presentations will be followed by a panel discussion and a reception.
Not only is the Trump administration supporting a $7.5 billion capital increase for the IBRD (and at that, one that is 50 percent larger than the capital increase supported by the Obama administration in 2010), it has also signed on to a policy framework for the new money that makes a good deal of sense.
Pascale Hélène Dubois will discuss the global impact of World Bank investigation and prevention activities and then join a panel with Kathrin Frauscher, Deputy and Program Director, Open Contracting Partnership and Hasan Tuluy, Partnership for Transparency Board Director, former World Bank Vice President, to dive deeper into what more can be done at the World Bank and other international institutions to combat corruption.
One-quarter of the world’s school-age children live in East Asia and the Pacific. In the past 50 years, some economies in the region have successfully transformed themselves by investing in the knowledge, skills, and abilities of their workforce. Through policy foresight, they have produced graduates with new levels of knowledge and skills almost as fast as industries have increased their demand for them. Yet, tens of millions of students in the region are in school but not learning. In fact, as many as 60 percent of students remain in systems that are struggling to escape the global learning crisis or in systems where performance is likely poor.
Last year the World Bank adopted a new “cascade” approach that intended to maximise finance for development by prioritising private solutions wherever possible. In what world would this “cascade” algorithm make sense? Without a good answer to that question, the cascade risks looking like ideology rather than sound development finance advice.
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