It cannot be denied that the grand old institution, the World Bank, faces huge challenges
The World Bank’s new President, Kim Jim-yong, has taken command of an institution that is tasked with remaining relevant in a world that is struggling to be prosperous and equitable. Various analysts have questioned the impact of the Bank’s work in the modern world and its relevance going forward. With regional development banks playing a more active role in Asia and Africa, and national development agencies — such as those in Brazil and China — lending astronomical amounts each year, the World Bank risks sliding into irrelevance unless it swiftly adapts to the challenges of the current day.
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