As we work to become a better Bank and more effectively address a multitude of global crises, this renewed approach to knowledge will underpin the new playbook for development President Banga announced at the 2023 Annual Meetings in Marrakech. Shared knowledge can help countries tackle policy changes and cultivate bankable projects that help transform lives.
The Knowledge Compact details our path to becoming a world-class Knowledge Bank. We will leverage the vast potential of technology to foster the exchange of best-in-class information to and from clients with greater speed, quality, and impact through four pillars: new and updated products, strategic partnerships, enhanced learning, and cutting-edge systems.
Knowledge has always been a Bank Group priority; but given today’s myriad challenges, we recognize that it is more important and more necessary than ever.
We will innovate more, move faster, and respond quickly to clients’ evolving development priorities. Unlocking knowledge flows will provide easy access to best practices, lessons learned, and innovative ideas between the Bank Group and our partners, ensuring that solutions to development challenges are available to those who need them most. Working closely with governments, we will craft focused development plans shaped by their ambition and our experience and expertise.
The Knowledge Bank will be organized along five simple verticals: People, Prosperity, Planet, Infrastructure, and Digital.
To complement these verticals, we will establish three new departments focused on outcomes, innovation and learning. These will bring synergies on cross-cutting themes across the verticals and dismantle any barriers to the flow of knowledge.
We are building a learning institution to identify, develop, exchange, and implement the best development ideas—one that will serve us well in our efforts to end extreme poverty and boost shared prosperity on a livable planet.