DFID publishes annual World Bank report

31 March 2010

Secretary of State, Douglas Alexander, has launched DFID's annual report into the UK's work with the World Bank.

Titled, 'The UK and the World Bank 2009' it reviews the UK’s work with the World Bank from December 2008 to 2009, a period which saw the effects of the financial crisis spread to the developing world.

The report looks at how the World Bank was able to assist developing countries facing the impact of the financial crisis, as well as other major issues on which DFID has worked with the World Bank:

• The bank’s response to the financial crisis.
• Progress on World Bank reform.
• A review of the performance of the bank’s work in the poorest countries.
• An assessment of progress against the government’s high-level objectives for the bank.

The report also sets out the priorities for the UK’s work with the World Bank in 2010. These include:

• Agreeing voting reform to give developing countries more say, underpinned by a dynamic voting formula that supports the bank’s work.
• Governance and institutional reform to ensure the bank can respond quickly and effectively to the development challenges of the 21st century.

This year also sees the 16th replenishment of the International Development Association (IDA).

Negotiations on the replenishment will provide another important opportunity to improve the quality of the Bank’s assistance to the poorest countries.