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IFI governance

News

World Bank reports on successes and future tasks

15 June 1999

The Bank’s External Affairs team recently published a 14 page document summarising progress during Wolfensohn’s time as President.

It lists achievements such as a new mission statement, the Strategic Compact renewal programme, the Comprehensive Development Framework, more lending to the private and social sectors, publishing Country Assistance Strategies (CASs), increasing financial sector staff by 40 per cent, taking on post-conflict work, introducing new loan types, forming 5 networks and 90 thematic groups, and auditing more procurement contracts.

The memo concludes by admitting that: “although considerable progress has been made over the last 4 years, a number of pressing issues remain”. These include:

  • operating the matrix management system;
  • achieving the savings promised in the Cost Effectiveness Review;
  • shifting more resources and decisions to the front-line;
  • maintaining improvements in project quality, and;
  • improving staff morale.