Region: Global
Country: Global / Non-Specific
Topic: Asset Recycling *, Financing and Risk Mitigation
Keywords: Financing and Risk Mitigation **
Document Link(s):
Document Summary:
The World Bank Group (WBG) uses trust funds, a financing arrangement set up with contributions from one or more development partner, to complement core funding from the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC), in support of the World Bank Group’s goals. Trust funds allow the Bank to mobilize and direct concessional resources to strategic development priorities and to mobilize the resources and capabilities of other development actors through partnership programs.
Document Details:
The Bank works with a growing array of development partners, both traditional and non-traditional, formal and informal, to help meet our shared goals. From the ongoing partnership with our sovereign donors, through engagement with foundations and civil society, to an increasing focus on leveraging private capital, the Bank recognizes how transformative partnership can be when new ideas, perspectives and experiences are combined with the necessary financial resources.
Development partners work with the Bank through trust funds:
- to align and pool funding support with other development partners within agreed strategic frameworks.
- to benefit from the Bank's convening power, at both the international and country level, to maximize coordinated action and achieve impact at scale.
- to benefit from the Bank's extensive technical expertise, country experience and supervision capacity, its financial control framework and its ability to monitor and report on results.
- to provide grant funding in fragile, conflict-affected and other complex situations enabling the World Bank to engage and provide critical assistance in circumstances where traditional instruments are not well-suited.
- to support innovative or emerging policy areas, which the Bank and Partners view as a priority.
Updated: August 3, 2023