The World Bank at 75

Abstract

As the World Bank approaches its 75th anniversary, it faces a rapidly changing global environment. Economic growth among developing countries means that, according to our projections, up to 42 current International Development Association (IDA) countries and 36 current International Bank for Reconstruction and Development (IBRD) countries could be eligible to graduate from their respective lending windows by 2019 under the bank's current rules. Changing dynamics in financial supply, both within and outside of the bank, and demand, e.g., for massive infrastructure investment or global public goods, indicate a need to rethink the bank's core lending model. This paper examines ways in which seeming immoveable forces underlying the World Bank's work might finally be ripe for change in the face of shifting development needs.