For the first time in several decades, the World Bank Group is undergoing a major internal reform. No longer regioncentric, the new structure, effective July 1, 2014, is organized around 14 Global Practices (Agriculture; Education; Energy and Extractives; Environment and Natural Resources; Finance and Markets; Governance; Health, Nutrition, and Population; Macroeconomics and Fiscal Management; Poverty; Social, Urban, Rural, and Resilience; Social Protection and Labor; Trade and Competitiveness; Transport and ICT; and Water) and 5 Cross-Cutting Solution Areas (Climate Change; Fragility, Conflict, and Violence; Gender; Jobs; and Public-Private Partnerships).
The new institutional architecture will help remove some of the "silos" that prevented staff members from sharing their knowledge more widely across Bank Group activities and kept them from applying the lessons of experience more broadly across multiple regions and sectors. A more efficient and focused institution will therefore be better equipped to respond to client needs more quickly and effectively and to meet its two overarching strategic goals—to reduce the number of people living in extreme poverty and to boost shared prosperity.
The World Bank Group also continues to advance other reforms to promote inclusiveness, innovation, efficiency, effectiveness, and accountability. It is expanding cooperation with the United Nations, the International Monetary Fund, other multilateral development banks, donor agencies, and civil society organizations. If the Bank Group is to respond effectively to the international economic realities of the 21st century, the reform efforts—including recognizing the expanding role and responsibility of stakeholders and increasing the voice and participation of developing countries—must maintain momentum on all fronts.
Increasing Voice and Participation
The World Bank Group is reforming to support greater representation of developing and transition countries in the institution, with an additional Board seat for Sub-Saharan Africa and an increase in the voting power of developing countries to at least 50 percent over time.
Promoting Accountability and Good Governance
Governance and anticorruption are now key lements in Bank Group operations across sectors and countries.
Improving Risk Management
A major effort is under way to reform the Bank Group's lending model so that it responds better to borrowers' needs and a changing global environment. The new approach calls for more focus on results and risks and for streamlined processing of low-risk operations, while paying more attention to supervision and higher-risk investments.
Reviewing Internal Governance
The "Review of Internal Governance" report sets out proposals for strengthening World Bank Group governance and overall effectiveness, including voice and participation, and for improving its responsiveness and adaptability to members' needs.
Disclosure of Information Policy Paper
Governance and Public Sector Management
Review of Internal Governance
The Bank's Policy on Information Disclosure
World Bank Group Senior Managers
World Bank Reform