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CGD research explores how international financial institutions such as the International Monetary Fund, World Bank, multilateral development banks, and other international development agencies can become more responsive to the needs of developing countries. The Center’s work concerns itself with the future of these institutions, all of which are facing shifts in demand for their traditional services, the emergence of new institutions, and reform of their leadership selection processes.
Nigeria is currently classified by the World Bank as a ‘blend’ country, making it the poorest country in the world that does not have ‘IDA-only’ status. This paper uses the World Bank’s own IDA eligibility criteria to assess whether Nigeria has a case for reclassification.
This paper considers what role pull instruments or challenge programs (such as the World Bank's Poverty Reduction Support Credits or the United States' Millennium Challenge Account) could play within the overall framework of foreign aid, asking how they could be designed to function as effective and efficient incentive instruments and how they could best complement other aid modalities.
Time to put to rest the stale debate over whether the World Bank should disburse grants or loans to the world’s poorest countries. It is critical that the Bank provide more of its funding as grants, but in a more rational manner than has been the case to date. A third Bank window should distribute grants – and grants only – to very poor countries, for example, with incomes below $500 per capita. Shifting to grants-only for the very poorest countries would ensure they never again find themselves with unpayable debt burdens, and would allow them to re-invest resources into their own economies rather than repay the Bank.