This Week in Global Development

IDA, or International Development Association is the world bank’s fund for the poorest countries. IDA provides grants and low-cost loans that countries can use for a variety of needs from health to education to infrastructure. This year it's up for replenishment and so the bank is going to donors to ask for a new influx of capital.


In this episode, we speak to Dirk Reinnerman, the Director of the IDA Resource Mobilization and IBRD Corporate Finance at the World Bank, about his pitch to donors in the IDA replenishment, and how it ties to broader bank reforms.

We also hear from Garghee Ghosh, the president of global advocacy and policy at the Gates Foundation about what makes IDA unique, and Serah Makka, the Africa Executive director at the ONE Campaign.

As finance ministers and central bank governors from the G20 nations concluded their recent meetings, concerns over the pace and stability of global economic recovery took center stage.

In an exclusive conversation with Achim Steiner, the Administrator of the United Nations Development Programme (UNDP), key insights emerged regarding the discussions surrounding coordination, the global financial architecture, and pressing challenges facing developing economies.

The World Bank and International Monetary Fund are trying to evolve and prove they are fit for purpose, but the jury is out on just how far that evolution process has gone. 

While numerous announcements were made at the World Bank-IMF Spring Meetings last week in Washington D.C., the pace of reform is too slow, according to several experts.

“The rhetoric in terms of the important pronouncements that have been made are saying the right things, but they're not giving you the next three things that could get done in the next month, in the next three months, in the next six months, in the next 12 months,” Afsaneh Beschloss, founder and CEO of investment firm RockCreek, told Devex.  

“And so what I would urge the shareholders to do is really get serious, put pressure on the World Bank to start getting things done, not to look at the negativity, but look at the need,” she said, adding that “so much can get done today as we speak.”

This gap between rhetoric and reality, between policy making at 10,000 feet and the impact on the real ground-level economy, was evident in the meetings, experts tell Devex in this podcast episode.

"The world is in a very, very difficult place. There is progress, but not enough. Reforms need to broaden and deepen to address the grave situation," Rachel Kyte, professor of practice in climate policy at the University of Oxford, told Devex.

We also speak with John Denton, the secretary general of the International Chamber of Commerce.Want to understand what played out at the meetings and what’s next? This podcast episode will give you the rundown.

The World Bank is about 18 months into its efforts to reform the institution in response to shareholder demands and changing global needs. From stretching its existing funding to attracting more private capital, the bank has laid a laundry list of proposals on the table.

So what has been accomplished thus far and what more is needed? That’s what we tackle in the first episode of a special edition podcast during this year’s World Bank and International Monetary Fund Spring Meetings, which take place in Washington D.C. this week. The bank has a new capital adequacy framework to get more out of its own money, a new mission statement making climate change part of its core ambition, and of course a new leader in Ajay Banga.

Listen in to hear Devex Senior Reporter Adva Saldinger in conversation with Clemence Landers, a senior policy fellow at the Center for Global Development, Kevin Gallagher, director of the Global Development Policy Center at Boston University, Stephanie von Friedeburg, managing director of banking and capital markets advisory at Citi, and Rep. French Hill, a Republican from Arkansas, who is vice chair of the House Financial Services Committee.