The World Bank at 75

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 IDA countries and 36 current 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 seemingly immoveable forces underlying the World Bank’s work might finally be ripe for change in the face of shifting development needs. Specifically, we offer examples of (1) how country eligibility standards might evolve; and (2) how the bank might move further away from the “loans to countries” model that has long defined it. Finally, we consider options for mobilizing more resources, and in more flexible forms, to support the World Bank’s work.