One World Bank Group

World Bank Group Integration

The World Bank Group continues to evolve its internal operations for the benefit of clients. The goal: to be easier to work with, more present in the markets that matter, and more effective at bringing public and private solutions together.

As of fiscal 2026, we have merged 88 country offices to unify leadership across IFC, MIGA, and the World Bank under a single Country Manager. We plan to continue consolidating country offices to give clients a single point of entry to the World Bank Group and make it easier for them to work with us. We are also decentralizing to better serve clients: Over the next two years, two-thirds of operations staff will be based in the regions they serve. This will enable them to respond more effectively to local needs, accelerate decision-making, and strengthen collaboration across the World Bank Group.

At the corporate level, we have consolidated our subject matter experts across IFC, MIGA, and the World Bank into one unit led by World Bank Group Chief Knowledge Officer Paschal Donohoe. This makes it easier for staff to learn from each other and share our knowledge with clients. We have also integrated all World Bank Group back- and middle-offices functions, including Budget, Communications and External Relations, Human Resources, and Information Technology.   

People and Places

In all our offices, the World Bank Group is committed to providing safe, collaborative, sustainable, and cost-effective environments that support staff effectiveness. At the end of fiscal 2026, the World Bank Group employed 20,706 full-time staff in 148 locations. The World Bank Group’s Staff Association represents the rights and interests of all staff, regardless of contract type, to senior management and the Board.

In our own supply chain, we leverage the World Bank Group’s purchasing power through a category-based approach to maximize efficiency and value, including by focusing on job creation through small businesses and local sourcing. We also keep operations running smoothly by identifying and addressing risks from approximately 22,000 vendors globally.

For more information about our operations and to access our corporate responsibility reports, visit: www.worldbank.org/en/about/what-we-do/crinfo (World Bank), www.ifc.org/en/about/corporate-responsibility (IFC), and https://www.miga.org/about-us (MIGA).

FundsChain

The World Bank Group is the first multilateral development bank to deploy a blockchain-based platform for traceability of funds at the country level, strengthening transparency and accountability in fiduciary management. This initiative aligns with the World Bank Group's broader commitments to digitalization and operational efficiency.

In fiscal 2026, we laid the foundation for FundsChain’s implementation by creating the necessary institutional and operational conditions. We onboarded 315 projects, half of them in Africa, and integrated training for government officials with structured country rollout planning. In fiscal 2027, we expect to leverage FundsChain to gain advanced analytics, AI-powered risk insights, and deeper interoperability with country financial management systems.

Budget Management

In fiscal 2026, the World Bank Group evolved its budget processes to enhance transparency and efficiency.

These reforms established a more integrated budget framework across IFC, MIGA, and the World Bank, linking business planning, workforce planning, and budget decisions more directly to institutional priorities and development outcomes. They simplified planning and reporting processes, improved visibility of total resources, and introduced stronger tools for management oversight. The reforms also streamlined cost-sharing arrangements, improved the treatment of donor and external funding, reduced some client-facing fees, and strengthened financial forecasting and revenue visibility. They further supported financial sustainability by creating efficiencies and redeploying resources to fund strategic priorities.

These actions moved the World Bank Group toward a more outcome-focused, agile, and accountable model that supports faster decision-making, greater value for money, and more effective delivery for clients and shareholders.

World Bank Group Boards

The Boards of Executive Directors^[1] (the Board) is made up of representatives of the World Bank Group’s member countries that appoint them or elected them. They exercise powers delegated by the Boards of Governors.^[2]

The Executive Directors operate in continuous session at the World Bank Group Headquarters. Executive Directors consider and decide on IBRD loans, IDA credits and grants, IFC investments, MIGA guarantees, and policies and strategic issues that impact the World Bank Group’s general operations.

For more information, visit https://www.worldbank.org/en/about/leadership/directors.

Strengthening the World Bank Group Independent Accountability Mechanisms

In fiscal 2026, the Boards of IBRD, IDA, IFC, and MIGA approved the integration of the Inspection Panel, the Compliance Advisor Ombudsman, and the Dispute Resolution Service into a single Independent Accountability Mechanism (IAM).

The decision drew on more than a year of deliberation and was informed by the recommendations of a Task Force engaged by the Boards. The Task Force carried out consultations with internal and external stakeholders, including several webinars, learning sessions with other multilateral development banks, and a written comment period.

This decision is part of a broader effort to reduce fragmentation and strengthen coherence across World Bank Group operations. As we move toward a truly integrated One World Bank Group model, our accountability architecture is evolving in the same direction.

The new IAM policy framework will build upon the existing policies and mandates of the current IAMs and be guided by the principle of non-regression, under Board oversight, in consultation with stakeholders.

Office of the Compliance Advisor Ombudsman

Established in 1999, the Office of the Compliance Advisor Ombudsman (CAO) is the independent accountability mechanism for projects supported by IFC and MIGA. People affected by the environmental and social impacts of these projects can raise their concerns with CAO, which reports directly to the IFC and MIGA Boards of Executive Directors. For more than 25 years, CAO has worked to facilitate the resolution of complaints in a fair, objective, and constructive manner; enhance environmental and social project outcomes; and foster public accountability and learnings to improve IFC/MIGA’s environmental and social performance. CAO’s Dispute Resolution function helps resolve issues between affected people and the institutions’ clients using a neutral, collaborative, problem-solving approach. CAO’s Compliance function carries out reviews of IFC/MIGA’s compliance with its environmental and social policies, assesses related harm, and recommends remedial actions where appropriate. Through its Advisory function, CAO provides advice to improve IFC/MIGA’s systemic performance on environmental and social sustainability.

In fiscal 2026, CAO handled 63 cases related to projects in 30 countries. CAO received 19 new eligible complaints related to projects in six sectors: banking and capital markets; disruptive technologies and funds; energy and mining; health, education, and services; infrastructure; and non-banking and alternative finance. Of these, CAO initiated assessments of 18 cases and referred one to IFC at the request of the complainants for an attempt at early resolution by IFC and its client. CAO closed 11 cases.

For more information, visit https://www.cao-ombudsman.org/.   

Accountability Mechanism: Inspection Panel and Dispute Resolution Service

The World Bank Accountability Mechanism (AM) comprises two independent entities—the Inspection Panel (Panel) and the Dispute Resolution Service (DRS)—that serve people and communities who believe that they have been, or are likely to be, harmed by a Bank-funded project. Both the Panel and DRS report to the Board and are independent of Bank Management.

Affected communities can submit complaints to the Panel. The Panel determines complaint eligibility, and, if warranted, recommends an investigation to the Board. If the Board approves the Panel’s recommendation, the investigation is held in abeyance, and the Head of the DRS offers a voluntary dispute resolution process. If this offer is accepted, a dispute resolution process will proceed. If this offer is declined or unresolved, the Panel proceeds with the investigation. If the parties sign a dispute resolution agreement, the process is concluded. 

In fiscal 2026, the Panel processed 10 new complaints regarding projects in Ecuador, Indonesia, Mozambique, Nigeria, the Philippines, Serbia, Sierra Leone, Tanzania, and Uganda. The Panel also recommended a verification of the implementation of the Management Action Plan following the investigation of the Requests for Inspection from Tanzania and Togo. Furthermore, the Panel is investigating a project in Uganda and has completed one concerning a project in Viet Nam, the latter of which was returned to the Panel after the conclusion of the dispute resolution process.

The DRS concluded a case in Pakistan, resulting in a signed dispute resolution agreement. It closed monitoring of agreement implementation in Uganda, continued monitoring in Cameroon, and began monitoring in Pakistan. The DRS also offered dispute resolution in separate cases in Uganda and Mozambique. The Mozambique case is currently under dispute resolution, while the Uganda case proceeded directly to investigation by the Panel.

For more information, visit accountability.worldbank.org/en/home and inspectionpanel.org.

The ICSID Administrative Council

The Administrative Council is the governing body of ICSID. Its composition, functions, and decision-making procedures are outlined in the ICSID Convention (Articles 4 to 8). The ICSID Administrative Council consists of one representative and one alternate representative from each Contracting State. Unless otherwise designated, the Governor for the World Bank appointed by that State serves as its representative on the ICSID Administrative Council.

Each Contracting State has one vote on the Administrative Council, and there is no weighted voting on any matter. At the end of fiscal 2026, 158 Contracting States were represented on the ICSID Administrative Council. The ICSID Administrative Council does not play a role in the administration of individual cases at ICSID.

The President of the World Bank Group serves as the Chair of the Administrative Council (Article 5 of the ICSID Convention). The Chair does not have a vote on matters before the Administrative Council but is responsible for convening and presiding over its meetings.

For more information, including an up-to-date list of members of the ICSID Administrative Council, visit https://icsid.worldbank.org/about/member-states/administrative-council.

Independent Evaluation Group

The Independent Evaluation Group (IEG) strengthens the development effectiveness and efficiency of the World Bank Group through program and project evaluations that help deliver better services and results to clients. IEG’s recommendations inform the World Bank Group’s directions, policies, programs, and operations. IEG is independent of the management of the World Bank Group and reports directly to the Executive Board.

In fiscal 2026, IEG evaluated the World Bank Group’s progress against thematic priorities including the fragility, conflict, and violence strategy, support for biodiversity, and adaptive social protection. IEG also produced its annual report on the results and performance of the World Bank Group, and validated management’s self-assessments of their implementation of IEG recommendations from fiscal 2021 to fiscal 2024. IEG also took a key step in establishing an AI strategy for evaluation that emphasizes practical ethics, peer governance principles, and adherence to strong values.

IEG evaluated the World Bank Group’s private sector engagement on gender and IFC’s platform approach to address development challenges at scale. To support the World Bank Group’s focus on country-level outcomes, IEG evaluated the results of our work in Ethiopia, Ghana, and Indonesia. IEG also evaluated corporate policies related to private capital mobilization through World Bank Group guarantees.

For more information and the IEG’s annual report, visit ieg.worldbankgroup.org.

Group Internal Audit

Group Internal Audit (GIA) is an independent function reporting to the President and overseen by the Board’s Audit Committee. Its assurance and advisory services help the World Bank Group to more effectively serve clients. GIA partners with bilateral, multilateral, and development organizations to strengthen oversight in challenging contexts, including in countries affected by fragility, conflict, and violence.

In fiscal 2026, GIA contributed to the Business Ready report, the World Bank Group Scorecard, the Crisis Preparedness and Response Toolkit, and the FCV Strategy Implementation Plan. GIA continued to advance its Country Assurance and Advisory Program, notably through engagements in Afghanistan and Sierra Leone. GIA also developed its Ukraine Oversight Program with engagements focused on the emergency relocation and evacuation of World Bank Group staff in Ukraine, and on managing risks in the Ukraine investment portfolio. Finally, GIA contributed to internal change management and budget processes.

For more information and the Group Internal Audit’s annual and quarterly reports, visit www.worldbank.org/internalaudit.

Sanctions System

The World Bank Group’s Sanctions System addresses allegations of fraud, corruption, collusion, coercion, and obstruction—collectively known as sanctionable practices—in our operations.

In fiscal 2026, following the conclusion of the Integrity Vice Presidency (INT) unit’s investigations, the World Bank Group sanctioned 16 entities and individuals via uncontested determinations of the Chief Suspension and Debarment Officer, three entities and individuals via decisions of the Sanctions Board, and eight entities and individuals via settlement agreements. Twenty entities and individuals met their conditions for release from World Bank Group sanctions.

The World Bank Group recognized 35 cross-debarments from other multilateral development banks, and 14 World Bank Group entities and individuals were eligible for recognition by other multilateral development banks.

INT investigated 54 cases of alleged fraud and corruption involving World Bank staff and corporate vendors and substantiated four cases.

For more information about the Sanctions System and its annual report, visit www.worldbank.org/integrity. To report suspected fraud or corruption in World Bank Group–financed projects, or by World Bank Group staff and corporate vendors, visit www.worldbank.org/fraudandcorruption.

Ethics and Internal Justice Services

The Ethics and Internal Justice Services (EIJ) unit is an independent function reporting directly to the President. EIJ fosters a values-based workplace culture and helps staff uphold the World Bank Group’s ethical standards while delivering for clients.

When workplace conflicts arise, EIJ provides an integrated, empathetic, and efficient approach to resolution. EIJ emphasizes early intervention to address workplace conflicts and behavioral issues before they escalate. When formal action is required, EIJ conducts investigations into allegations of staff misconduct and administers the staff grievance mechanism.

In fiscal 2026, EIJ launched a policy on protection against retaliation to strengthen safeguards for staff engaging in protected activities. During the same year, 3,900 staff used EIJ’s services, 9,363 staff received in-person ethics-related training, and 20,447 staff took the online “Delivering with Decency” compliance course.

For more information about Ethics and Internal Justice Services, visit https://www.worldbank.org/en/about/unit/ethics-and-internal-justice-services.

World Bank Group Management-led Grievance Mechanisms

As integral components of the World Bank Group’s broader accountability architecture, the World Bank Grievance Redress Service (GRS) and the IFC Direct Complaints mechanism provide individuals and communities with robust, institutional-level channels to voice their concerns. If stakeholders believe a World Bank Group-supported project has, or is likely to have, adverse environmental or social effects on them, their community, or their environment, they can submit complaints directly to the respective institution.

Established in 2015, the World Bank’s GRS facilitates the response to such grievances by ensuring that the issues raised are promptly addressed through sound and sustainable solutions. Similarly, the IFC Direct Complaints mechanism, created in 2019 and launched externally in 2024, reinforces this commitment by offering complainants a direct avenue to engage with IFC management and its clients, facilitating the efficient and proactive resolution of environmental and social concerns. MIGA’s Direct Complaints mechanism, started in 2023, provides a similar entry point for MIGA-supported projects.

In fiscal 2026, the three mechanisms combined received 1,373 complaints from more than 100 countries, continuing a steady upward trend since their inception. Together, these mechanisms demonstrate the World Bank Group's dedication to responsive problem-solving, transparency, and ensuring positive development outcomes across its operations.  

For more information, visit www.worldbank.org/grs or www.ifc.org/escomplaints.

Addressing Risks of Sexual Exploitation, Abuse, and Harassment

Through the World Bank’s (IBRD/IDA) Environmental and Social Framework (ESF) and IFC Sustainability Framework, we strive to identify, prevent, and mitigate the risks of sexual exploitation and abuse and sexual harassment (SEA/SH) in World Bank Group-financed operations.

In fiscal 2026, the World Bank Group provided targeted technical assistance to our government and private sector counterparts, and promoted cross-learning opportunities for our clients and staff on practical approaches to addressing SEA/SH. We are also integrating SEA/SH and child safeguarding into the forthcoming IFC Performance Standards update.

We supported two independent evaluations: one on the ESF implementation, including a dedicated deep dive on SEA/SH in the World Bank’s portfolio; and one on the IFC Sustainability Framework, with a view to informing its current update process, including specific SEA/SH measures.

We contributed to an external study on protection against sexual exploitation and abuse and sexual harassment, and continue to convene regular technical and leadership meetings of the Multilateral Financial Institutions Working Group on SEA/SH. We also participate in various multi-stakeholder fora to advance this agenda across public and private sector operations.

^{[1] In MIGA, Directors.}

^{[2] Board of Governors is the Council of Governors for MIGA.}

Trust Funds

The World Bank Group manages a diverse portfolio of trust funds, which receive resources from more than 100 donors. Trust funds are part of the World Bank Group’s toolkit and complement its core financing. They can mobilize funding quickly to fill financing gaps, offset risks, and provide flexibility. This often means the World Bank Group can work in the most challenging environments and deliver impact even where core financing is limited or unavailable. Trust funds broaden World Bank Group partnerships to more effectively address country, regional, and global challenges.

Trust funds also serve as force multipliers for the World Bank Group’s development impact, enabling IBRD to build public sector foundations, IFC to catalyze private investment, and MIGA to de-risk both. This integrated approach unlocks private investment and delivers results at scale by leveraging each institution’s unique strengths while working cohesively toward shared development objectives. While trust funds can vary in size and scope, they all serve the World Bank Group’s mission to end extreme poverty and boost shared prosperity on a livable planet.

The World Bank uses trust funds to strengthen the public sector foundations essential for development. At the end of fiscal 2026, World Bank trust funds held $27.9 billion in trust as cash, investments, and promissory notes. In the last five years (fiscal 2022–26), 91 percent ($67.2 billion) of World Bank trust fund disbursements went to recipient-executed activities in member countries, helping to build the foundations for job growth including infrastructure, institutions, and human capital. Of this amount, over $8.1 billion was disbursed to IDA and IDA-blend countries (i.e., countries eligible for both IDA and IBRD lending). Trust funds serve as engines of innovation, funding about two-thirds of the World Bank’s advisory services and analytics that lay the groundwork for both public and private investment.

Catalyzing Private Sector Investment

While the World Bank builds public sector foundations, IFC catalyzes private sector investment, mobilizing private capital with support from development partners. In fiscal 2026, IFC deployed nearly $1.4 billion in partner funding across its blended finance, upstream, and advisory activities, helping transform markets, mobilize investment, and support job creation in challenging environments. This sustained donor support reflects the strength of IFC's longstanding relationships with development partners.

IFC’s blended finance trust funds provide concessional donor funding, combining it with IFC's own-account financing to make high-impact projects viable in challenging markets. On average, from fiscal 2018-2026, every dollar of blended finance helped unlock more than $6 in total investment. Approximately 41 percent of partner contributions to IFC blended finance trust funds signed in fiscal 2026 will support private sector development in fragile and conflict-affected situations, demonstrating how trust funds enable IFC to operate where risks are highest and needs are greatest. Tailored blended finance solutions, including several innovative approaches introduced or expanded during the year, helped advance projects that could not proceed on commercial terms alone.

To support Ukraine’s private sector, IFC and the European Commission established the first High Impact Equity Guarantee Program for Ukraine to mobilize equity investment, including in infrastructure and small and medium enterprises, with strong potential for replication in other emerging markets. Also in fiscal 2026, Italy joined eight other IFC development partners—Belgium, the European Commission, France, Japan, the Netherlands, Norway, Switzerland, and the United Kingdom—to support IFC’s investment program in Ukraine, which helps sustain critical sectors and supports Ukraine’s reconstruction, including agribusiness, energy, and technology, and enables businesses to continue operating despite security risks, labor shortages, and rising input costs. IFC trust funds have now received more than $1 billion in concessional finance commitments commitments for Ukraine.

The Catalytic First Loss Guarantee Program (CFLG) under IFC’s Micro, Small, and Medium Enterprises (MSME) Finance Platform illustrates how close World Bank Group collaboration can expand financing for MSMEs, one of IFC’s key priorities. Supported by the IDA Private Sector Window trust fund, this program provides guarantees to private financial intermediaries. In fiscal 2026, the program fully deployed its Board-approved $20 million CFLG envelope trust fund allocation alongside $22 million of IFC own-account financing, together mobilizing $224 million in total financing—including $202 million in private capital—an 11-fold multiple of the trust fund allocation, and demonstrating the potential to further scale private investment in MSME finance. Germany became the first donor to the Frontier Opportunities Fund, a novel financing vehicle that uses concessional first-loss capital to improve risk-return profiles and catalyze equity investment and philanthropic co-investments in high-impact climate projects across developing and emerging markets.

IFC advisory and upstream trust funds complement the World Bank’s public sector work by helping to de-risk projects, develop investable opportunities, and support reforms that attract private capital into markets where it might otherwise remain on the sidelines. These trust-funded activities bridge public sector reforms and private sector investment. In fiscal 2026, $178 million of development partner funding was spent on advisory services and upstream activities. Donor trust funds accounted for 43 percent of IFC’s total upstream and advisory resources, supporting shared World Bank Group priorities, including the jobs agenda and private capital mobilization. IFC's upstream work helped enable $23.6 billion in long-term financing for private sector projects—more than one-quarter of all long-term financing committed by IFC and its partners during the year.

In fiscal 2026, IFC’s trust-funded upstream and advisory work advanced job-creating projects in high-impact sectors such as infrastructure, agribusiness, and value-added manufacturing, including in fragile and conflict-affected situations. In Bangladesh, Australia supported the Laldia Container Terminal public-private partnership (PPP) through IFC’s South Asia Regional Infrastructure and Connectivity trust fund. IFC’s PPP transaction advisory work helped structure the project and mobilized more than $760 million in private investment. The project is expected to generate more than 3,000 jobs, including 500-700 direct positions at the terminal, plus significant indirect employment in logistics and manufacturing. In the Democratic Republic of the Congo, the United Kingdom, through a new trust fund contribution, supported IFC’s Scaling Finance for Agribusinesses program, which aims to create jobs and improve livelihoods by expanding access to finance, agricultural equipment, and business opportunities for women entrepreneurs, smallholder farmers, and agricultural small businesses. In Ukraine, the Japan-IFC Comprehensive Trust Fund is supporting the development of the NovaSklo Greenfield project, which aims to establish the country’s first domestic float-glass manufacturing facility through feasibility, risk, environmental and social, and corporate governance reviews; financial modeling; and prospective investor engagement. Once operational, it is expected to support Ukraine’s reconstruction by reducing reliance on imports, creating more than 300 direct jobs, and generating additional employment across related value chains.

De-risking Through Guarantees

MIGA completes the World Bank Group's integrated approach by using trust funds to provide guarantee instruments that de-risk investments for both public and private sector projects. Trust funds, including the Renewable Energy Catalyst Trust Fund, the West Bank and Gaza Trust Fund, and the Support for Ukraine’s Reconstruction and Economy Trust Fund, share guarantee exposure on individual projects via first-loss layers and reinsurance. These instruments enable MIGA to bridge the World Bank’s public sector work and IFC's private sector investments by guaranteeing higher-risk projects and increasing investor confidence, particularly in fragile and conflict-affected settings, while advancing job creation and women's economic empowerment. The Fund for Advancing Sustainability complements these efforts by strengthening environmental, social, and gender practices and broadening access to guarantees for small businesses in low-income and fragile countries.

Financial Intermediary Funds

Financial intermediary funds (FIFs) represent large, distinct, multi-partner financing arrangements, for which the World Bank provides administrative support. They enable the international community to pool and coordinate funding from many sources to tackle specific development challenges, such as disease, food security, and other systemic changes. FIFs are independently governed, and the World Bank Group has no decision-making authority. Instead, FIFs rely on the World Bank to provide financial and other services to facilitate their funding efforts and decisions. The World Bank serves as trustee for 27 FIFs. At the end of fiscal 2026, $45.2 billion was held in trust in the form of cash, investments, and promissory notes for FIFs. Seventeen FIFs have also selected the World Bank to host their secretariats, and 19 FIFs use World Bank Group institutions as their implementing entities.

For more information, visit https://www.worldbank.org/en/about/unit/pim.