Å·ÃÀÈÕb´óƬ is transforming to respond to these compounding crises¡ªfighting to preserve the hard-won development gains of previous decades and evolving to be a better partner to meet the most pressing needs of people and the planet in the future. Trust funds and financial intermediary funds (FIFs) are powerful tools for global development and an important part of this equation.
Trust funds and FIFs complement the World Bank¡¯s core funding to meet critical needs, working across the development spectrum and delivering on the World Bank¡¯s global challenge programs. Trust funds and FIFs have a powerful multiplier effect by targeting resources to issues of global concern, piloting innovative solutions for the most entrenched problems, developing knowledge that drives results, and allowing the World Bank to respond with urgency and in places otherwise out of reach.
The evolution of the World Bank¡¯s mission is an opportunity to further strengthen the impact of trust funds and FIFs. The reforms of the past five years have resulted in fewer, larger, and more strategically aligned trust funds, positioning them to meet this moment as they provide an established pathway for the World Bank to expand partnerships to increase available funds and impact.
Partnerships play a crucial role in the success of the World Bank. Nowhere is that more prevalent than in trust funds and FIFs. We express gratitude to all our development partners, implementing partners, and client countries for their active involvement, cooperation, and commitment to our common mission and vision. As we work collectively to catalyze change and multiply impact in the face of cascading global crises, trust funds and FIFs are an integral component of the effort to end poverty and boost shared prosperity on a livable planet.
Akihiko Nishio
Vice President
Development Finance, World Bank Group