Corporate Strategy, Scorecard, and Results Documents
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These documents highlight the main messages and goals of the World Bank Group.
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Publication
International Finance Corporation Strategy and Business Outlook Update FY22-24: Leaning In
(World Bank, Washington, DC, 2022)This report provides an overview of the World Bank Group’s (WBG) strategic directions and the alignment of work programs and resources with these directions. It was prepared jointly by the World Bank (WB), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) and forms a common chapeau of each institution’s Strategy and business outlook paper. -
Publication
A Roadmap for Climate Action in Latin America and the Caribbean, 2021-2025
(Washington, DC: World Bank, 2022)In Latin America and the Caribbean (LAC) the rapidly changing climate is increasing the frequency and intensity of extreme weather‑related events. The year 2020 saw the most catastrophic fire season over the Pantanal region and a record number of storms during the Atlantic cyclone season. Eta and Iota, two category 4 hurricanes, affected more than 8 million people in Central America, causing tens of billions of dollars in damage. In Honduras, annual average losses due to climate‑related shocks are estimated at 2.3 percent of gross domestic product (GDP). In rankings of the impacts of extreme weather events from 2000 to 2019, five Caribbean nations figure among the top 20 globally in terms of fatalities per capita, while in terms of economic losses as a share of GDP eight of the top 20 countries are in the Caribbean. Extreme precipitation events, which result in floods and landslides, are projected to intensify in magnitude and frequency due to climate change, with a 1.5°C increase in mean global temperature projected to result in an increase of up to 200 percent in the population affected by floods in Colombia, Brazil, and Argentina; 300 percent in Ecuador; and 400 percent in Peru. Climate shocks reduce the income of the poorest 40 percent by more than double the average of the LAC population and could push an estimated 2.4–5.8 million people in the region into extreme poverty by 2030. -
Publication
GRI Index 2021
(World Bank, Washington, DC, 2021-10-13)This 2021 World Bank GRI Index is an inventory of the sustainability considerations used in World Bank (Bank) lending and analytical services as well as its corporate practices. This sustainability disclosure index has been prepared in accordance with the Core option of the GRI Standards. The GRI Index covers activities carried out during fiscal 2021, from July 1, 2020, to June 30, 2021. The Coronavirus (COVID-19) pandemic has impacted the Bank’s operations and staff activities through reduced travel, an extended shutdown of its offices, and a shift in staff health services. Where significant, these impacts have been noted in the report. -
Publication
Sustainability Review 2021
(World Bank, Washington, DC, 2021-10-12)The global pandemic has highlighted the deep interconnectedness between the planet, people, and economies, increasing the urgency of our work at the World Bank. It has also strengthened our commitment to environmental, social, and economic sustainability in all that we do. As we support our client countries to meet their development goals in a sustainable manner, we work hard to “walk the talk” in our own investments, practices, and corporate footprint. Living our core values of impact, integrity, respect, teamwork, and innovation demands nothing less. The Sustainability Review 2021 highlights World Bank activities undertaken in fiscal 2020 and 2021 to manage the environmental, social, and economic impacts of internal business operations. The review complements the World Bank Annual Report 2021 and the World Bank Global Reporting Index (GRI) 2021. -
Publication
World Bank Group Climate Change Action Plan 2021-2025: South Asia Roadmap
(World Bank, Washington, DC, 2021-10-05)South Asia is one of the most vulnerable regions to climate change. The people of South Asia are living through a "new climate normal," where intensifying heat waves, cyclones, droughts, and floods are testing the limits of governments, businesses, and citizens to adapt. Jacobabad in Pakistan's Sindh province was, this year, the hottest city on the planet with temperatures higher than the human body can handle. In 2020, more than three million people were evacuated to safety from the fury of Super Cyclone Amphan. At the same time, South Asia has an unfinished development agenda with legitimate aspirations to reach middle income status in the foreseeable future, which will include increasing access to energy, increasing rural incomes and managing large scale urbanization, among others. The success with which South Asian countries navigate these development transitions, while also reducing emissions and increasing climate resilience, will determine the region's ability to lift millions from the threat of poverty and vulnerability, and help the world to secure the overall climate transition. -
Publication
Green, Resilient, and Inclusive Development
(World Bank, Washington, DC, 2021-10-01)Developing countries have experienced growing structural weaknesses over the last decade. COVID-19 and climate change have further aggravated these, worsening poverty and inequality, and starkly exposing the interdependence between people, the planet, and the economy. This report charts out the Green, Resilient, and Inclusive Development (GRID) approach, which departs from previous development strategies by promoting economic growth that goes hand in hand with environmental goals and social inclusion. Pursuing the twin goals of poverty eradication and shared prosperity with a sustainability lens, the GRID approach addresses the risks to people, the planet, and the economy in an integrated manner that is tailored to country needs and objectives. It sets a path that achieves lasting economic progress that is shared across the population, providing a robust recovery, and restoring momentum on the Sustainable Development Goals (SDGs). As countries face a historic opportunity to establish a better way forward, they will need to make significant reforms, mobilize domestic resources fairly, and deploy private sector solutions at scale. To ensure that the fruits of these transformations are evenly distributed, a range of social and labor market policies are also needed to compensate losers, safeguard the vulnerable, and deliver a just transition to a green economy. As needs are vast, complementary involvement from the public and private sectors, and the international community is vital -
Publication
Results in the Latin America and Caribbean Region 2021, Volume 17
(World Bank, Washington, DC, 2021-10)As a direct consequence of the COVID-19 pandemic, 2021was a year of enormous challenges in Latin America and the Caribbean (LAC). The region faced a daunting health emergency, for which it was ill prepared, and then endured the devastating social and economic costs of the crisis. LAC’s daunting challenge was to begin its social and economic recovery while still battling the pandemic. The World Bank supported these efforts and made a record contribution to the region’s countries, helping to mitigate the damage, protect the most vulnerable and support reconstruction efforts. The road to full recovery will still be long, and the region must continue to move toward more inclusive and resilient growth, deepening its capacity to absorb shocks and offering a greater well-being to its population. The briefs contained in this book showcase the many ways that both active and recently closed World Bank-financed projects are supporting the region’s efforts to overcome the current health crisis, and helping to lay foundations for long-term development, with inclusive growth, human capital creation and greater resilience. To promote inclusive growth, efforts were made to ensure that the benefits of investments in key sectors reach everyone. In the Brazilian state of Pernambuco, for example, a US$190 million loan helped finance investments in water supply and sanitation infrastructure, reducing water rationing for 900,000 people in Recife and connecting 70,000 people to the sewerage network. In northern Argentina, with a US358.8 million dollars loan from the Bank, investments were made along 418 kilometers of provincial roads, improving access and mobility for the area’s rural populations and indigenous communities. Human capital investments are fundamental for development. They help provide people with the tools they need to prosper and take advantage of available opportunities in a time of uncertainty and deep transformation in the world of work. -
Publication
World Bank Group Climate Change Action Plan 2021–2025: Supporting Green, Resilient, and Inclusive Development
(World Bank, Washington, DC, 2021-06-22)The Climate Change Action Plan 2021–2025 aims to advance the climate change aspects of the WBG’s Green, Resilient, and Inclusive Development (GRID) approach, which pursues poverty eradication and shared prosperity with a sustainability lens. In the Action Plan, we will support countries and private sector clients to maximize the impact of climate finance, aiming for measurable improvements in adaptation and resilience and measurable reductions in GHG emissions. The Action Plan also considers the vital importance of natural capital, biodiversity, and ecosystems services and will increase support for nature-based solutions, given their importance for both mitigation and adaptation. As part of our effort to drive climate action, the WBG has a long-standing record of participating in key partnerships and high-level forums aimed at enhancing global efforts to address climate change. The new Action Plan represents a shift from efforts to “green” projects, to greening entire economies, and from focusing on inputs, to focusing on impacts. It focuses on (i) integrating climate and development; (ii) identifying and prioritizing action on the largest mitigation and adaptation opportunities; and (iii) using those to drive our climate finance and leverage private capital in ways that deliver the most results. That means helping the largest emitters flatten the emissions curve and accelerate the downward trend and ramping up financing on adaptation to help countries and private sector clients prepare for and adapt to climate change while pursuing broader development objectives through the GRID approach. -
Publication
A Blueprint for Strengthening Food System Resilience in West Africa: Regional Priority Intervention Areas
(Washington, DC: World Bank and UN FAO, 2021-05-11)Over the last decade, the combined impact of multiple drivers and shocks including food demand growth, stagnant crop yields, climate change, rising insecurity, and, more recently, the COVID-19 pandemic has resulted in worsening food and nutrition insecurity across West Africa. Despite this alarming trend, the region's diverse agriculture and food sector has the potential to provide West Africans with sufficient, affordable, and nutritious food while contributing to inclusive growth and poverty reduction. The report begins by providing an overview of key trends and developments shaping current food system outcomes before identifying and examining three interconnected priority areas for simultaneous intervention at regional level: i) Strengthening the Sustainability of the Food System’s Productive Base: Climate-Smart Agriculture (CSA) at Farm and Landscape Level; ii) Promoting an Enabling Environment for Intraregional Value Chain Development and Trade Facilitation; and iii) Enhancing Regional Risk Management Architecture and Farmer Decision Support Tools. By proposing a set of implementation-ready regional flagship initiatives for each intervention area, the report supports a broad range of development partners and other actors in formulating policies and designing upcoming investment projects. Regional flagship initiatives proposed in the report include inter alia accelerating the evolution of the regional agricultural research system; promoting cross-border food value-chains through investments in food safety, quality control, and traceability systems; and upgrading early-warning and food crisis prevention systems by using digital technology. -
Publication
IDA18 Retrospective: Investing in Growth, Resilience, and Opportunity through Innovation
(World Bank, Washington, DC, 2021-04-09)The landmark 18th Replenishment of the International Development Association (IDA18) featured significant innovation, substantial delivery, and flexibility to respond to urgent country needs, including COVID-19. Paradigm shifts in IDA18 signaled a significant change for IDA. Dedicated Windows address targeted development needs to complement country allocations.