WASHINGTON, May 19, 2023—The World Bank Group today signed a Memorandum of Understanding with the Milken Institute to collaborate to advance more inclusive and sustainable engagement with Historically Black Colleges and Universities (HBCUs). The partnership will create career development opportunities for students and subject matter experts and promote social and economic development.
The new agreement follows a Memorandum of Understanding signed in September 2022 between the World Bank Group and six Historically Black Colleges and Universities (HBCUs) in the United States.
“As we recognize the huge challenges facing development, the exchange of people, ideas, and skills will be vital. The World Bank Group is building partnership platforms globally that connect educational institutions and people. This expanded partnership with the Milken Institute will create new avenues for collaboration.” said World Bank Group President David Malpass.
The Milken Institute is a nonprofit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, the Milken Institute brings together the best ideas and innovative resourcing to develop blueprints for tackling some of the most critical global issues through the lens of what’s pressing now and what’s coming next.
“This MOU is a natural extension of the work we’ve done on DEI broadly and with communities of color and HBCUs specifically,” said Richard Ditizio, Chief Executive Officer, Milken Institute. “We welcome partnerships such as this to further implement our work and thinking around these issues.”
The agreement provides a framework for the two organizations to cooperate to facilitate opportunities for students of HBCUs.
The World Bank Group’s existing partnership with the Milken Institute includes the IFC-Milken Institute Capital Markets Education Program and the Public Financial Asset Management Program with the Bayes Business School at the City University of London.