Lending credibility : new mandates and partnerships for the World Bank

Abstract

The central message of the theme papers is that the Bank continues to treat objectives of poverty reduction, environmental sustainability, and good governance as 'add ons' subordinate to the Bank's principal objective of promoting economic growth. The papers recognize significant attempts on the part of the Bank to address these sustainable development objectives through new policies, programs, and structures. However, the papers conclude that there is still progress to be made in assuring that Bank operations and policies do not actively undermine these objectives, due to a persistent gap between the Bank's rhetorical commitments and the reality of its actions. The papers identify three sets of challenges that must be addressed to achieve further progress in improving the Bank's performance in promoting sustainable development objectives. The first challenge is to determine and reach consensus-inside and outside the institution, about the extent to which the Bank should actively promote such objectives as social equity, global environmental sustainability, and protection of human rights. The second challenge faced by the Bank is to establish appropriate relationships with shareholder and borrower governments, other multilateral organizations, the for-profit private sector, and elements of civil society down to the community level. The third challenge is to overcome bureaucratic obstacles to operationalizing new goals and partnerships.

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